Opinion
1591-23
02-05-2024
BARBARA LINN CAMPBELL & CLAYTON EDWARD CAMPBELL, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER AND DECISION
Kathleen Kerrigan Chief Judge
On February 1, 2024, the parties filed a Proposed Stipulated Decision in this case. The Proposed Stipulated Decision indicates that no penalty is due for the taxable year 2020 under I.R.C. section 6662. However, no such penalty appears in the notice of deficiency.
Upon due consideration and for cause, it is
ORDERED that the proposed stipulated decision is recharacterized as a joint settlement stipulation. Taking into account the basis for settlement reached between the parties, as reflected in that document, and incorporating herein the facts stipulated by the parties as the findings of the Court, it is further
ORDERED and DECIDED that there is a deficiency in income tax due from petitioners for the taxable year 2020 in the amount of $627.00, and that there is an overpayment in income tax due to petitioners for the taxable year 2020 in the amount of $1,822.82, for which amount a claim for refund could have been filed under the provisions of I.R.C. section 6511(b)(2) on November 21, 2022, the date of the mailing of the notice of deficiency.