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resulted in the subsequent tentative refund for 1985, are not to
be taken into account by the Court in redetermining the 1985 tax
liability,12 respondent argues that the 1996 and 1999
stipulations provide for the tax assessed and paid for the 1985
tax year to be reduced by the subsequent tentative refund.13
Respondent first contends that the 1999 stipulation provides
that the 1996 stipulation “‘controls the manner in which the
income tax at issue for the 1985 taxable year will be computed.’”
Respondent then argues that because the parties agreed in the
1996 stipulation that the initial tentative refunds for the 1983
and 1984 tax years would be treated as a reduction to the tax
assessed and paid, the subsequent tentative refund for the 1985
tax year should be treated in the same fashion.
Petitioner agrees that the 1999 stipulation directs the
Court to consider the language of the 1996 stipulation.
Petitioner, however, argues in a memorandum that the 1996
stipulation says “nothing at all” about whether the subsequent
tentative refund is to be treated as a reduction to the tax
assessed and paid for 1985. Petitioner further argues that the
“absence of any such language for 1985 is not only conspicuous,
12 Both parties agree that the NOL carrybacks, which
resulted in the subsequent tentative refunds, are also not in
issue before the Court.
13 Our use of the singular form of the term “subsequent
tentative refunds” refers to the subsequent tentative refund for
the 1985 tax year.
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Last modified: May 25, 2011