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On September 18, 2000, respondent mailed petitioner a
Notice of Determination Concerning Collection Action(s) Under
Section 6320 and/or 6330 (notice of determination) for 1990
through 1998. Respondent determined (1) the requirements of
applicable law and administrative procedures had been met, (2)
petitioner did not dispute the correctness of the underlying
liabilities for the years in issue, and (3) to proceed with
collection.
OPINION
At trial, petitioner admitted that he did not dispute the
underlying liability at the section 6330 hearing; however, at
trial and on brief petitioner attempted to claim he was entitled
to additional deductions for some of the years in issue. We
reject this claim for the following reasons: (1) For 1990 and
1992 he is prevented from disputing his underlying liabilities
because respondent and petitioner reached an agreement as to
additional liabilities and these amounts were assessed, Aguirre
v. Commissioner, 117 T.C. 324, 327 (2001), and (2) petitioner
presented no credible evidence that his underlying liabilities
for any of the years in issue were incorrect. Smith v.
Commissioner, T.C. Memo. 2002-59.
Prior to 1994, petitioner owned the Emerson house. During
1994, Fleet foreclosed on the Emerson house. Fleet received all
the proceeds of the foreclosure sale. Petitioner sued Fleet and
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