Opinion
2831-22S
07-29-2024
GANG XIONG, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER AND DECISION
Peter J. Panuthos Special Trial Judge
On July 24, 2024, the parties filed a Proposed Stipulated Decision and Settlement Stipulation. Because of a typographical error contained in the proposed decision document, the Court will not enter it. Additionally, the proposed decision document includes language regarding the overpayment that is superfluous under the circumstances. See I.R.C. § 6512(b)(3)(A). Nevertheless, the agreement of the parties, as reflected in the parties' aforementioned settlement documents, appears clear to the Court.
In view of the foregoing, to give effect to the agreement of the parties in this case, 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 no deficiency in income tax due from petitioner for the taxable year 2018, and that there is an overpayment in income tax due to petitioner for the taxable year 2018 in the amount of $19,611.09, which amount was paid after the mailing of the notice of deficiency; and
That there is no penalty under I.R.C. section 6662(a) due from petitioner for the taxable year 2018.