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Rule references are to the Tax Court Rules of Practice and
Procedure. The Court agrees with and adopts the opinion of the
Special Trial Judge which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
PANUTHOS, Chief Special Trial Judge: On April 7, 2000,
respondent issued a notice of final determination denying
petitioner’s claim to abate interest for tax year 1980.
Petitioner challenged the determination by timely filing a
petition under section 6404(i) and Rule 281.
The issue for decision is whether respondent abused his
discretion in denying petitioner's request for abatement of
interest assessed from July 1993, through the present date with
respect to petitioner’s 1980 taxable year.
FINDINGS OF FACT
The stipulation of facts and the accompanying exhibits are
incorporated herein by reference. Petitioner resided in Brandon,
Florida, at the time his petition was filed with the Court.
In 1983, petitioner invested in the First Energy Leasing tax
shelter (First Energy) and claimed an investment tax credit of
$10,000, of which he applied $3,670 to his 1983 tax liability.
He carried back $6,330 of the credit to his 1980 tax year for
which he filed a Form 1045, Application for Tentative Refund,
received by the Cincinnati Service Center on March 20, 1984.
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