Aron B. Katz and Phyllis A. Katz - Page 2




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               Laurence E. Nemirow, Josh O. Ungerman, and William R.                  
          Cousins III, for petitioners.                                               
               James E. Archie, for respondent.                                       


                                       OPINION                                        

               VASQUEZ, Judge:  This matter is presently before the Court             
          on petitioners’ motion to dismiss for lack of jurisdiction.  In             
          the event petitioners’ motion to dismiss is not granted, the                
          parties have filed cross-motions for summary judgment1 pursuant             
          to Rule 121.2  As discussed below, we shall deny petitioners’               
          motion to dismiss and motion for summary judgment, and we shall             
          grant summary judgment in favor of respondent.                              
                                     Background                                       
               Petitioners resided in Boulder, Colorado, at the time their            
          petition was filed in this case.  The following summary of the              
          relevant facts is based on the parties’ stipulations and attached           
          exhibits.                                                                   



               1  The motions were originally filed as motions for partial            
          summary judgment.  Yet, subsequent to the filing of these                   
          motions, the parties settled with respect to all other issues               
          remaining in the case.  Accordingly, we drop the “partial”                  
          modifier and treat the motions as requesting summary judgment in            
          favor of the movant.                                                        
               2  Unless otherwise indicated, all section references are to           
          the Internal Revenue Code in effect for the years in issue, and             
          all Rule references are to the Tax Court Rules of Practice and              
          Procedure.                                                                  




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