Opinion
1350-22S
09-06-2022
BIJU J. VARGHESE & SHEEBA BIJU, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER AND DECISION
Kathleen Kerrigan Chief Judge
On August 1, 2022, the parties filed in the above-docketed matter a Proposed Stipulated Decision and Settlement Stipulation for the Court's consideration. However, the Court notes that the preamble of the proposed decision document is improper under the circumstances. Consequently, the Court is unable to process the parties' Proposed Stipulated Decision.
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 shall be 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 in the Settlement Stipulation as the findings of the Court, it is further
ORDERED AND DECIDED: That there is no deficiency in income tax due from petitioners for taxable year 2020 and that there is an overpayment in income tax due to petitioners for the taxable year 2020 in the amount of $4,100.00, which amount was paid on April 15, 2021, and for which amount a claim for refund could have been filed under the provisions of I.R.C. §65l2(b)(3)(C) on December 27, 2021, the date of mailing of the notice of deficiency; and
That there is no penalty due from petitioners for taxable year 2020, under the provisions of I.RC. §6676.