- 13 - statements in the U.S. Court of Appeals for the Fifth Circuit’s opinion in the case of another AMCOR investor, Beall v. United States, 467 F.3d 864 (5th Cir. 2006) affg. 335 F. Supp. 2d 743, (E.D. Tex. 2004).10 The relevant portion of the Court of Appeals’ opinion reads as follows: “The IRS did not return the partnerships’ books and records until 1993, and when the IRS did return them, some had been lost and the remainder were in disarray.” Id. at 866. The doctrine of issue preclusion, or collateral estoppel, provides that once an issue of fact or law is “‘actually and necessarily determined by a court of competent jurisdiction, that determination is conclusive in subsequent suits based on a different cause of action involving a party to the prior litigation.’” Monahan v. Commissioner, 109 T.C. 235, 240 (1997) (quoting Montana v. United States, 440 U.S. 147, 153 (1979)). The following five conditions must be satisfied before application of issue preclusion in the context of a factual dispute: (1) The issue in the second suit must be identical in all respects with the one decided in the first suit; (2) there must be a final judgment rendered by a court of competent jurisdiction; (3) collateral estoppel may be invoked against 10 Petitioner does not appear to request that the Court take judicial notice of the “facts” in Beall v. United States, 467 F.3d 864 (5th Cir. 2006). We note, however, that taking judicial notice would be inappropriate in this matter. See Abelein v. Commissioner, T.C. Memo. 2007-24.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 NextLast modified: November 10, 2007