Opinion
116-21
12-07-2023
STEVEN M. EMBREE, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER AND DECISION
Kathleen Kerrigan, Chief Judge.
On December 5, 2023, the parties filed a Settlement Stipulation and Proposed Stipulated Decision. Because the proposed decision document erroneously refers to petitioner in the plural sense in the caption, the Court is unable to enter it. Nevertheless, the agreement of the parties in this case is clear to the Court.
In view of the foregoing, to give effect to the agreement of the parties, and for cause, it is
ORDERED that the parties' Proposed Stipulated Decision is recharacterized as the parties' Stipulation of Settlement. 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 petitioner for the taxable year 2015 in the amount of $17,787.00;
That there is no deficiency in income tax due from petitioner for the taxable year 2016, and that there is an overpayment in income tax due to petitioner for the taxable year 2016 in the amount of $27,792.00, of which amount $2,319.37 was paid on November 24, 2017, and of which amount $25,472.63 was paid on October 23, 2017, and for which amounts a claim for refund could have been filed under the provisions of I.R.C. section 6511(b)(2) on October 6, 2020, the date of the mailing of the notice of deficiency; and
That there are no penalties due from petitioner for the taxable years 2015 and 2016 under the provisions of I.R.C. section 6662(a).