Alfred J. Martin - Page 2

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                                     Background                                       
               The parties submitted this case fully stipulated pursuant to           
          Rule 122.  The stipulation of facts and accompanying exhibits are           
          incorporated herein by this reference.2  Petitioner resided in              
          Santa Fe, New Mexico, when he filed the petition.                           
               During 1980, petitioner was married to Amilu Stewart                   
          (formerly Amilu Martin, formerly Amilu Rothhammer, and referred             
          to herein as Amilu).3  On April 15, 1981, petitioner and Amilu              
          filed a joint Federal income tax return for 1980 (the 1980 joint            
          return).  Subsequently, respondent audited the 1980 joint return            
          in connection with respondent’s investigation of individuals                
          involved in the Elektra Hemisphere tax shelters.4                           
               On December 6, 1983, during respondent’s examination of the            
          1980 joint return, petitioner signed Form 872-A, Special Consent            
          to Extend the Time to Assess Tax.  On June 7, 1988, respondent              


               2In the stipulation of facts, petitioner objected to the               
          relevancy and materiality of certain stipulations drawn from the            
          findings of fact in a related case involving petitioner, Martin             
          v. Commissioner, T.C. Memo. 2000-187 (Martin I), affd. on other             
          grounds 38 Fed. Appx. 980 (4th Cir. 2002).  We overrule                     
          petitioner’s objections with respect to those stipulations                  
          incorporated herein, because we conclude that those stipulations            
          are relevant to our discussion of the limitations issue.                    
               3Petitioner and Amilu divorced in 1981.                                
               4Before 1980, petitioner and Amilu purchased a limited                 
          partnership interest in Winchester Oil, one of the Manhattan                
          group partnerships, which were the subject of the Elektra                   
          Hemisphere tax shelter litigation in this Court.  See Krause v.             
          Commissioner, 99 T.C. 132 (1992), affd. sub nom. Hildebrand v.              
          Commissioner, 28 F.3d 1024 (10th Cir. 1994).                                




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