- 5 -- 5 - Express providing a breakdown of the distributions from Mr. Uddo's accounts by date, amount, and payee. Due to an obvious date error in two of the entries, Mr. Berry called American Express to request a correction. The corrected response was received by Mr. Berry on January 16, 1998. Upon review of the documentation from American Express, Mr. Berry concluded that $144,931 of the $156,931 had been rolled over tax-free. On January 16, 1998, Mr. Berry mailed the American Express documentation to Mr. Neilson along with a letter requesting any additional information that would support a finding that the final $12,000 was also rolled over tax-free. Mr. Berry spoke with Mr. Neilson by telephone on February 20, 1998, and Mr. Neilson stated that he needed to consult with petitioners and their accountant. Mr. Berry followed up with a phone call to Mr. Neilson on February 25, 1998, and was advised that Mr. Neilson had not received his clients' approval to concede the remaining $12,000. When Mr. Berry contacted Mr. Neilson again on February 27, 1998, Mr. Neilson stated that he had not received a response from petitioners' accountant. Mr. Berry then advised Mr. Neilson that decision documents would be prepared reflecting the $12,000 as taxable. The decision document was prepared and faxed to Mr. Neilson on March 3, 1998. At the call of the trial calendar on March 9, 1998, the decision document executed by the parties was filed as a stipulation of settlement. The stipulation of settlementPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011