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FINDINGS OF FACT6
Some facts are stipulated and are so found. The stipulation
of facts, with accompanying exhibits, is incorporated herein by
this reference. In addition, as they relate to this case and
were accepted by the Court of Appeals, we incorporate relevant
portions of our findings of fact in Payne v. Commissioner, T.C.
Memo. 1998-227, revd. 224 F.3d 415 (5th Cir. 2000), an earlier
case involving deficiency determinations against petitioner for
the 2 prior taxable years (1987 and 1988).7
At the time the petition was filed, petitioner resided in
Houston, Texas.
5(...continued)
commenced prior to July 22, 1998. Petitioner does not dispute
that contention. Accordingly, sec. 7491 is inapplicable to this
case.
6 Petitioner has failed to set forth objections to
respondent’s proposed findings of fact. Accordingly, we conclude
that petitioner concedes that respondent’s proposed findings of
fact are correct except to the extent that petitioner’s findings
of fact are clearly inconsistent therewith. See Jonson v.
Commissioner, 118 T.C. 106, 108 n.4 (2002).
7 We do not believe that the facts that we incorporate are
controversial. We incorporate them principally to provide
background material. Indeed, at the call of this case from the
calendar, petitioner stated that the prior case involves “exactly
the same facts” as this case. See Peninsula Props. Co. v.
Commissioner, 47 B.T.A. 84, 85 (1942), and Miller v.
Commissioner, 47 B.T.A. 68, 69 (1942), in each of which we
incorporated by reference all of our findings of fact in the
other and in a third related case involving individuals and
entities common to all three cases.
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