Douglas J. Crawford - Page 7

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          4.  Section 6673(a)(1) Penalty                                              
               Section 6673(a)(1) authorizes this Court to award a penalty            
          not in excess of $25,000 when proceedings have been instituted or           
          maintained primarily for delay, or where the taxpayer's position            
          is frivolous or groundless; i.e., it is contrary to established             
          law and unsupported by a reasoned, colorable argument for a                 
          change in the law.  See Coleman v. Commissioner, 791 F.2d 68, 71            
          (7th Cir. 1986); Talmage v. Commissioner, T.C. Memo. 1996-114,              
          affd. without published opinion 101 F.3d 695 (4th Cir. 1996).  In           
          our view, under all the circumstances here, including the                   
          concessions by respondent, a penalty in this case is not                    
               To reflect concessions,                                                
                                             Decision will be entered                 
                                        under Rule 155.                               

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