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investor would concede the section 6621(c) interest; (5) the
Government would concede the additions to tax for negligence
under section 6653(a)(1) and (2); (6) the Government would
concede the additions to tax for substantial understatement under
section 6661; and (7) the investor had to execute a closing
agreement.
Leduc's settlement offer letter stated that the offer would
not be repeated and would be the best offer that would be made at
any level of the IRS. Leduc's letter also mentioned that "this
offer is identical for all investors within any entity identified
as part of the Plastics Recycling Group." In addition, Leduc's
letter clearly pointed out that the settlement offer would expire
30 days from the date stamped on the letter.
Winer did not recall receiving the offer letter from Leduc.
According to Winer, if he had received the settlement offer, he
would have forwarded it to Gordon.
Karras testified at the evidentiary hearing that he received
a letter from Gordon regarding the settlement offer. Karras knew
that Gordon was the attorney for Davenport. In his letter,
Gordon advised participants that they should not accept the
settlement offer from the IRS and that Gordon was going to
continue to pursue the case.
Winer did not accept the settlement offer on behalf of any
of the partnerships. Leduc closed the partnership cases as
unagreed and recommended that FPAA's be issued.
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