- 12 - On April 9, 1990, we filed our unanimous Court-reviewed opinion in First Western Govt. Securities v. Commissioner, 94 T.C. 549 (1990), in which we denied an identical motion filed by the taxpayers in those consolidated cases. We certified those cases for interlocutory appellate review. Id. at 564-565, 569. We held those cases, and others such as Series 115, in abeyance pending appellate resolution of the issue. Our opinion in First Western Govt. Securities v. Commissioner, supra, was affirmed sub nom. Samuels, Kramer & Co. v. Commissioner, 930 F.2d 975 (2d Cir. 1991). The issue finally was resolved in Freytag v. Commissioner, 501 U.S. 868 (1991). On July 15, 1991, Series 115 was assigned to Special Trial Judge Pate. Series 115 was tried and submitted to Special Trial Judge Pate on January 15, 1993. In the spring of 1993, after the trial in Series 115, the Commissioner renewed the earlier settlement offer in the Barrister cases. Winkler decided to renew the settlement offer because he anticipated many problems in the pre-TEFRA Barrister cases which would require a lot of time to resolve. Some of the problems Winkler anticipated included the presence of carrybacks and mispostings to accounts. The settlement offer also was renewed to (1) give Winkler and his colleagues work while they were awaiting an opinion in the Series 115 case, and (2) reduce the inventory of Barrister cases.Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Next
Last modified: May 25, 2011