Perry C. Krape - Page 3

                                        - 3 -                                         
          penalties for tax years 1999, 2000, and 2001.  On May 26, 2005,             
          petitioner petitioned this Court for a redetermination of the               
          above-mentioned determination.                                              
               On November 20, 2006, the parties filed a stipulation of               
          settled issues (the stipulation) with the Court.  The stipulation           
          resolved substantially all of the issues in the notice of                   
          deficiency.  Particularly, the parties now agree that petitioner            
          has an overpayment of tax for tax year 2000 in the amount of                
          $129,656.  The parties also agree that petitioner is allowed a              
          refund of $23,805 of that overpayment, representing the                     
          additional payment petitioner made on January 30, 2003.  The                
          parties agree that the only issue that remains for our                      
          determination is whether petitioner is barred from recovering the           
          remaining portion of the above-mentioned overpayment (amounting             
          to $105,851) pursuant to section 6512.1                                     
               Petitioner objects to respondent’s motion for entry of                 
          decision in accordance with the stipulation.  Petitioner argues             
          that the delinquent return forms the basis of a claim for refund,           
          and that petitioner is therefore entitled to a refund or credit             
          of the above-mentioned overpayment of $129,656 pursuant to                  
          section 6512(b)(3)(C).  Respondent contends that the delinquent             

               1  Unless otherwise indicated, all section references are to           
          the Internal Revenue Code, and all Rule references are to the Tax           
          Court Rules of Practice and Procedure.                                      

Page:  Previous  1  2  3  4  5  6  7  8  9  Next 

Last modified: November 10, 2007