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settlement provided, among other things, that petitioner would
have ownership of a 1989 Ford pickup truck and that Ms. Kerr
would release any interest or title to “any commercial vehicles”.
The marital settlement also provided that petitioner would retain
as his sole and separate property the stock of 7 Materials Corp.
and Kerr Construction & Paving Co.; it further stated that Ms.
Kerr would relinquish any interest in the stock of Redi-Mix
Concrete (hereinafter RMC). The marital statement also stated
that petitioner owned no real estate, having quitclaimed to Ms.
Kerr his ownership interests in six parcels of real estate,
including one in Lake Winnebago, Missouri, and one at an address
on “Euclid” in Kansas City, Missouri. In addition, the agreement
indicated that petitioner and Ms. Kerr had made full disclosure
of their income and assets and the values thereof in Income and
Expense Statements and Financial Statements to be filed with the
Cass County Court.
Collection Proceeding
On March 10, 2003, respondent issued a Final Notice of
Intent to Levy and Notice of Your Right to a Hearing with respect
to petitioner’s unpaid 1992 tax liability, which had grown to
$129,220. Petitioner requested a hearing. On June 30, 2003,
before any hearing had been scheduled, respondent received from
petitioner Form 9465, Installment Agreement Request, wherein
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