Lewis v. Commissioner
United States Tax Court
Shortly before trial set for January 1987, a decision was entered, pursuant to stipulation, determining petitioners' tax liability for 1977. Petitioners then moved to vacate the decision, claiming entitlement to a net operating loss carryback from 1978, and the decision was vacated in March 1987. The case was thereafter set for trial in December 1987. The week before trial, petitioners moved for a continuance, which was denied.
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Shortly before trial set for January 1987, a decision was entered, pursuant to stipulation, determining petitioners' tax liability for 1977. Petitioners then moved to vacate the decision, claiming entitlement to a net operating loss carryback from 1978, and the decision was vacated in March 1987. The case was thereafter set for trial in December 1987. The week before trial, petitioners moved for a continuance, which was denied. Respondent moved for entry of decision in accordance with the prior stipulation of the parties. Held: Petitioners' claim for a net operating loss carryback was not…
1Opinion of the Court
OPINION
COHEN, Judge:
In a statutory notice sent September 15, 1981, respondent determined a deficiency of $140,219.56 in petitioners’ Federal income taxes for 1977 and an addition to tax of $7,010.98 under section 6653(a), I.R.C. 1954.1 Respondent has moved for entry of a decision that there is an agreed deficiency of $82,762.84, and no addition to tax, due from petitioners. Petitioners oppose that motion and request that they be allowed additional time to raise and litigate a claimed net operating loss carryback from 1978 as an offset to their liability for 1977.
The petition, filed November…
2Cases cited11 opinions
- Hatfield v. CommissionerUnited States Tax Court · 1977
- Glass v. CommissionerUnited States Tax Court · 1986
- Ralph Freedson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1978
- Markwardt v. CommissionerUnited States Tax Court · 1975
- Brooks v. CommissionerUnited States Tax Court · 1984
6 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Drake v. CommissionerCourt of Appeals for the First Circuit · 2007
- Manzoli v. CommissionerUnited States Tax Court · 1989
- Yoo Han & Co. v. CommissionerUnited States Tax Court · 1991
- Estate of Herzog v. CommissionerUnited States Tax Court · 1992
- Freeman v. Comm'rUnited States Tax Court · 2009
3 more not listed; retrieve them via the Exa API.