Thomas J. & Gisella Sabath - Page 6

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          petitioners’ offer in compromise based on the incorrect                     
          assumption that they did not file the referenced tax returns for            
          2002.                                                                       
               In answer, respondent alleged that petitioners were                    
          precluded by section 6330(c)(2)(B) from litigating in this                  
          proceeding the amount or existence of their underlying tax                  
          liability.  According to respondent, the amount of taxes owed by            
          petitioners, the amount of their payments, the application of               
          those payments, the rates and accrual of interest, and all other            
          relevant matters alleged by petitioners in their petition to be             
          improper had been within the scope and jurisdiction of the                  
          bankruptcy court, and petitioners had the full opportunity in               
          their bankruptcy proceeding to challenge the amounts and                    
          existence of any taxes under the jurisdiction of the bankruptcy             
          court.                                                                      
               On March 14, 2005, approximately 3 weeks after respondent’s            
          answer was filed, petitioner and respondent filed with the Court            
          a stipulation of settlement asking the Court to enter a decision            
          against petitioner fixing an agreed-upon amount of unpaid income            
          taxes (inclusive of additions to tax, penalties, and interest) as           
          of March 15, 2005.                                                          
                                     Discussion                                       
               Respondent and petitioner ask the Court to enter a decision            
          fixing an agreed-upon amount of petitioner’s unpaid Federal                 






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