Rink v. Commissioner
United States Tax Court
P, an experienced attorney, and R executed a closing agreement. They now dispute its interpretation. Held: The closing agreement is clear and unambiguous and supports R's position. Held further: Even if the disputed terms of the closing agreement are deemed ambiguous, ordinary principles of contract law require that we adopt R's interpretation.
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P, an experienced attorney, and R executed a closing agreement. They now dispute its interpretation. Held: The closing agreement is clear and unambiguous and supports R's position. Held further: Even if the disputed terms of the closing agreement are deemed ambiguous, ordinary principles of contract law require that we adopt R's interpretation. P knew, but never advised R, that R's interpretation of the language was different from P's, and P withheld important information from R. Considering all the facts and circumstances, including the settlement negotiations leading up to the closing…
1Opinion of the Court
Ruwe, Judge:
Respondent determined deficiencies of $8,118 and $4,983 in petitioners’ Federal income taxes for 1985 and 1986, respectively. The issue we must decide is whether petitioners are precluded from claiming depreciation deductions for the taxable year 1986 as a result of a closing agreement executed by the parties in 1987.1
FINDINGS OF FACT
Some of the facts have been stipulated and are so found. The stipulation of facts and attached exhibits are incorporated herein by this reference. Petitioners resided in Cincinnati, Ohio, when they filed their petition.
Petitioner Thomas C. Rink is an…
2Cases cited13 opinions
- United States v. SeckingerSupreme Court of the United States · 1970
- Zaentz v. CommissionerUnited States Tax Court · 1988
- Glass v. CommissionerUnited States Tax Court · 1986
- Kenneth P. Kirchman and Budagail S. Kirchman, Leo P. Ayotte and Nancy C. Ayotte v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1989
- Gefen v. CommissionerUnited States Tax Court · 1986
8 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Thomas C. Rink and Alison W. Rink v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1995
- Estate of Robert C. Duncan v. CIRCourt of Appeals for the Fifth Circuit · 2018
- Marathon Oil Co. v. United StatesUnited States Court of Federal Claims · 1998
- Buesing v. United StatesUnited States Court of Federal Claims · 1999
- Buesing v. United StatesUnited States Court of Federal Claims · 2000
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