Eldon R. Kenseth and Susan M. Kenseth - Page 12

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          deductions under section 68.  The deficiency of $55,037 that was              
          determined by respondent included a liability of $17,198 for                  
          alternative minimum tax arising from the disallowance of the                  
          miscellaneous itemized deduction of the attorney’s fees for the               
          purpose of the alternative minimum tax under section                          
               Petitioner and the other members of the class relied on the              
          guidance and expertise of Fox & Fox in signing the separation                 
          agreements tendered to them by APV and then seeking redress                   
          against APV.  Commencing with the advice to petitioner that he                
          could sign the separation agreement with APV without giving up                
          his age discrimination claim, Fox & Fox made all strategic and                
          tactical decisions in the management and pursuit of the age                   
          discrimination claims of petitioner and the other class members               
          against APV that led to the settlement agreement and the recovery             
          from APV.                                                                     
               Fox & Fox was aware of the relationship between any gross                
          settlement amount and the resulting fee that Fox & Fox would                  
          receive.  In the effort to ensure that the amounts ultimately                 
          received by petitioner and the other class members would                      
          approximate the full value of their claims, Fox & Fox factored in             
          an amount for the attorney’s fee portion of the settlement in                 


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Last modified: May 25, 2011