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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.
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