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been addressed to Mr. Gable. As of December 30, 1998, the law
firm billed a total of $116,449 for services rendered, and Mr.
Gable paid $102,659 of that amount with assets of the SEBA Plan.
Mr. Gable also provided an affidavit stating the SEBA Plan is
funding the case, and petitioners are liable for any amounts, if
any, not paid by the plan.
The parties settled all the adjustments determined in the
notice of deficiency. On May 19, 1997, a stipulation of
settlement was filed wherein the parties agreed that there are
(1) no deficiencies in income taxes owed by petitioners, nor
overpayment due to petitioners, and (2) that there are no
penalties due from petitioners under section 6662(a) for taxable
years 1991, 1992, and 1993. On the same date, petitioners filed
a Motion for Award of Reasonable Litigation Costs under section
7430 and Rule 231, seeking to recover costs in the amount of
$78,070, plus attorney's fees incurred during the prosecution of
the motion. Respondent objected to the granting of the motion.
Petitioners requested a hearing on the motion, which was
scheduled to be held at a trial session in Tampa, Florida. The
parties estimated that the hearing would require 2 or more days
since the issue whether respondent was substantially justified
would require the presentation of substantial evidence. In lieu
of the hearing on petitioners’ motion for litigation costs, the
parties entered into a Stipulation to Be Bound, whereby the
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