Laura K. Davis, et al. - Page 1

                                T.C. Memo. 2007-201                                   

                               UNITED STATES TAX COURT                                

                       LAURA K. DAVIS, ET AL.,1 Petitioners v.                        
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket Nos. 144-05L, 145-05L,     Filed July 24, 2007.                 
                           146-05L, 147-05L,                                          

                    These cases brought pursuant to sec. 6330, I.R.C.,                
               are before the Court to determine whether Ps must pay                  
               penalties pursuant to sec. 6673(a)(1), I.R.C., for                     
               instituting procedures primarily for delay, etc., and                  
               whether counsel must pay R’s excess counsel fees                       
               pursuant to sec. 6673(a)(2), I.R.C., for unreasonably                  
               and vexatiously multiplying the proceedings.                           
                    1.  Held:  P husband penalized pursuant to sec.                   
               6673(a)(1), I.R.C., for instituting and maintaining                    
               proceedings primarily for delay, making frivolous                      
               arguments and taking groundless positions, and                         

               1  Cases of the following petitioners are consolidated                 
          herewith:  JLD Asset Management Co., a.k.a. JLD Asset Management            
          Trust, Jeffrey Davis, Trustee, docket No. 145-05L; Jeffrey W.               
          Davis, docket No. 146-05L; Jeffrey W. Davis, docket No. 147-05L;            
          and Laura K. Davis, docket No. 149-05L.                                     

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Last modified: November 10, 2007