- 2 -
Held: Ps exhausted their administrative remedies
and are entitled to litigation costs. Held, further,
sec. 7430(b)(1), I.R.C.; sec. 301.7430-1(b)(2), Proced.
& Admin. Regs., interpreted.
Joseph E. Mudd and Jeri L. Gartside, for petitioners.
Louis B. Jack, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
GERBER, Judge: In this opinion, the third one issued in
this case,1 we consider whether petitioners exhausted their
administrative remedies so as to be entitled to recover costs and
fees under section 7430.2
Prior History
In our first opinion, Allen v. Commissioner, T.C. Memo.
1998-406, we found that a payment received by petitioners was not
paid by the insurance company to settle petitioners’ claim for
punitive damages. We also held that petitioners were entitled to
nonrecognition treatment under section 1033 with respect to any
1 See Allen v. Commissioner, T.C. Memo. 1998-406; Allen v.
Commissioner, T.C. Memo. 1999-118.
2 All section references are to the Internal Revenue Code,
in effect when the petition was filed, and all Rule references
are to this Court’s Rules of Practice and Procedure, unless
otherwise indicated.
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