T.C. Mem o. 2 01 5- 19 7

UNITED STAT ES TAX COURT

W ILLIAM J . KARDASH, SR., TRANSFEREE, Peti ti on er v . COMMI SSIONER

OF INTERNAL REVENU E, Resp on de nt * CHARLES K. ROBB, TRANSFEREE, Pet it io ne r v. C OMMI SSIONER OF

INTERNAL REVENU E, Resp on de nt

Doc ke t No s. 1 26 81 -1 0, 1 27 03 -1 0. Fi le d Oct ob er 6 , 20 15
.
Eric a G. Ple ss an d M ic ha el P. Ty so n, fo r pe ti ti on er i n d oc ke t No . 12 68 1- 10
. Mi tc he ll I. Horo wit z an d Qi anW an g, fo r pe ti ti on er i n d oc ke t No . 12 70 3- 10
. Serg io Garci a-Pa ge s, M ic ha el S. Kram arz, Ti m othy L. Sm ith, an d An dr ew Mi ch ael Tikti n, fo r res po nd en t.

Thi s o pi ni onsupp le m en ts ou r pr io r op in io n Kar da sh v. Co m m is si on er, T.C. * Mem o. 2 01 5- 51
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[* 2] SUPPLEMENTAL MEMORANDUM FI NDINGS OF FACT AND OPINION GOEKE, Ju dg e: Thi s m at te r is be fo re the Co urt o n p et it io ne rs ’ m ot io ns for
reco ns id erat io n (moti on s) un de r Ru le 16 1 of o urop in io n i n Kar da sh v. 1 Co m m is si on er, T.C. Mem o. 2 01 5- 51 . In Kard as h we h el d, am on g o th er thi ng s, th atres po nd en t es tabl is he d tha t tran sf ers to pe ti ti on ers in20 05 , 20 06 , and20 07 were fr au du le ntun de r Fl or id a la w. Accor di ng ly, we he ldth atpe ti ti on ers were li ab le as t ran sf

eree s fo r th e y ears 20 05 , 20 06 , and20 07 un de r se ct io n 6 90 1( a). Id
. at*4 1- *4 2. Inm ot io ns pu rs ua ntto Ru le 16 1, p et it io ne rs reque stth e Co urt t o re co ns id er ou r pr io r op in io n. Sp eci fic al ly, pe ti ti on ers rai se two is su es : (1 ) whe th er o ur co nc lu si on th atFlo rid a Eng in eere d C on st ru ct io n P ro du ct s C or p. (F ECP) was in so lv en t atth e b eg in ni ng of 2 00 5 was a subs tant ia l erro r, an d (2 ) whe th er pa ym en ts in20 05 , 20 06 , and20 07 were p artof ade ferr edco m pe ns at io n p lan. Mr
. Kard as h a ll eg es inhi s m ot io n tha t we fa il edto cred itag ai ns t h is tra ns fere e li ab il ity th e Fed eral in co m e ta x l iabi li ti es pa idon th e tr an sf ers . Last ly, Mr. Ro bb all eg es th athe was n ev er a s ha reh ol de r of FECP an d the refo re the tra ns fers co ul d n otha ve Unl es s o th erwi se in di cat ed , all sec ti on refe ren ces are t o the Int ern al 1 Rev enue Co de ineffe ctforth e y ears at i ss ue , andall Ru le refe ren ces are t o the Tax Co urt Ru le s o f Prac ti ce an d P ro cedur e.-3
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[* 3] be endi vi de nd s. Re sp on de ntha s fi le d s ep arat e o bjec ti on s t o p et it io ne rs ’
m ot io ns , to ge th er wi th supp orti ng m em or an du m of l aw. W e wil l g ran t the
m ot io ns inpart b utwil l n otalt er the res ul t o f ou r pr io r op in io n a s d es cri be d he rei n. FINDINGS OF FACT W e in co rp or at e o ur

fin di ng s i n Kar da shan d s etforth ad di ti on al fact s fo r pu rp os es of t hi s o pi ni on . The se cas es in vo lv e res po nd en t’s ef fo rts to co ll ecttax , add it io ns to tax , pe na lt ie s, an d i nt eres t as se ss edag ai ns t FECP . FECP owe s m or e th an$1 20 m il li on bu t ca nn otpay

it s fu ll li ab il ity . Peti ti on ers , alo ng with M es sr s. St an to n and Hug he s, o wne d a ll of the st oc k o f FECP an d re cei ve d tran sf ers fro m th e co m pa ny. Res po nd en t n ow s eek s t o re co up ov er $ 5 m il li on of t he tax , add it io ns to tax , pe na lt ie s, an d i nt eres t fr om pe ti ti on ers . FECP as su m edth e o pe rat io ns of a no th er Fl or id a co rp or at io n kno wn as Cas t-C ret e Co rp . of Fl or id a (Ca st -Cre te ) atth e ti m e o f FECP’s i nc or po rat io n. Cas t-C ret e h adinpl ace ado cu m en t t it le d “ Cas t-C ret e Co m pe ns at io n P lan” whi chdi d n otm en ti on de ferr edco m pe ns at io n. Purs ua ntto th is do cum en t, the
ex ces s o f any

bo nu s o ve r $2 5,0 00 was t o b e p ai d t o p et it io ne rs an nu al ly in s to ck
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[* 4] FECP m ad e th e fo ll owi ng di vi de ndpay m en ts to Mr. Kard as h dur in g 2 00 5, 20 06 , and20 07
. Date Am ou nt Date Am ou nt 1/ 18 /2 00 5 $5 7,5 00 12 /2 8/ 20 05 $4 78 ,74 5 4/ 1/ 20 05 75 ,00 0 1/ 27 /2 00 6 11 5,0 00 5/ 2/ 20 05 11 5,0 00 2/ 22 /2 00 6 11 5,0 00 5/ 27 /2 00 5 57 ,50 0 3/ 27 /2 00 6 11 5,0 00 6/ 24 /2 00 5 57 ,50 0 4/ 24 /2 00 6 11 5,0 00 7/ 22 /2 00 5 57 ,50 0 5/ 22 /2 00 6 57 5,0 00 8/ 24 /2 00 5 57 ,50 0 6/ 28 /2 00 6 28 7,5 00 9/ 30 /2 00 5 57 ,50 0 9/ 25 /2 00 6 34 5,0 00 10 /2 6/ 20 05 57 ,50 0 12 /1 8/ 20 06 28 7,5 00 11 /1 7/ 20 05 47 8,7 45 3/ 23 /2 00 7 57 ,50 0 FECP m ad e th e fo ll owi ng di vi de ndpay m en ts to Mr. Ro bb du rin g 2 00 5, 20 06 , and20 07
. Date Am ou nt Date Am ou nt 1/ 18 /2 00 5 $7 ,50 0 12/ 28 /2 00 5 $6 2,4 45 4/ 1/ 20 05 7,5 00 1/ 27 /2 00 6 15 ,00 0 5/ 2/ 20 05 15 ,00 0 2/ 22 /2 00 6 15 ,00 0 5/ 27 /2 00 5 7,5 00 3/ 27 /2 00 6 15 ,00 0 6/ 24 /2 00 5 7,5 00 4/ 24 /2 00 6 15 ,00 0 7/ 22 /2 00 5 7,5 00 5/ 22 /2 00 6 75 ,00 0-5
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[* 5] 8/ 24 /2 00 5 7,5 00 6/ 28 /2 00 6 37 ,50 0 9/ 30 /2 00 5 7,5 00 9/ 25 /2 00 6 45 ,00 0 10 /2 6/ 20 05 7,5 00 12 /1 8/ 20 06 37 ,50 0 11 /1 7/ 20 05 62 ,44 5 3/ 23 /2 00 7 7,5 00 Res po nd en t’s ex pe rt, Arl en e Asl an ian, p rep areda rep ort i n wh ic h s he
co m pu te d the ba lanc es du e fro m FECP as a res ul t o f it s s et tl em en t wi thres po nd en t ina pr io r co ns ol id at edcas e in ou r Co urt. Ms . Asl an ian e st im at edFECP’s Fed eral in co m e ta x l iabi li ti es , add it io ns to tax , pen al ti es , andin te res t o wedto res po nd en t
on th e tr an sf

er d at es inth e in st an t ca se s. Sh e es ti m at edth atFECP o wed $3 4,2 33 ,59 1 o n Dec em

be r 28 , 20 05 , and$5 0,7 96 ,64 0 o n J anua ry 27 , 20 06
. Usi ng th e m ark etap pr oa ch , res po nd en t’s ex pe rt, Dr. Sh ak ed , fou ndth atth e fai r m ark etva lu e o f FECP’s as se ts was l es s than the va lu e o f it s Fe de ral in co m e ta x l iabi li ti es , add it io ns to tax , pen al ti es , andin te res t as of J anua ry 27 , 20 06 , res ul ti ng inin so lv en cy . Dr. Shak edco nc lu de d tha t FECP rem ai ne d i ns ol ve nt th ro ug h M arch 23 , 20 07 , as e vi de nc edinth e tabl e b el ow: 2

Dr. Sha ke d u se d M s. As lani an ’s Fed eral tax est im at es with the ad di ti on of 2 FECP’s St at e ta x l iabi li ty esti m at es .-6
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[* 6] Valu at io n d at e Co nc lu de d

bu si ne ss en te rp ris e v al ue Tot al li ab il it ie s Equ ity va lu e 12 /2 8/ 20 05 $4 8,7 80 ,52 6 $4 1,9 38 ,07 4 $6 ,84 2,4 53 1/ 27 /2 00 6 48 ,91 4,6 36 61 ,22 3,1 51 (12 ,30 8,5 15 ) 2/ 22 /2 00 6 58 ,23 7,4 69 61 ,39 5,2 47 (3,1 57 ,77 7) 3/ 27 /2 00 6 60 ,82 8,4 88 61 ,64 9,5 33 (8 21 ,04 4) 4/ 24 /2 00 6 56 ,80 0,4 41 64 ,76 3,9 79 (7,9 63 ,53 8) 5/ 22 /2 00 6 53 ,66 4,5 58 65 ,29 2,7 04 (11 ,62 8,1 46 ) 6/ 28 /2 00 6 51 ,72 7,2 19 65 ,91 0,4 49 (14 ,18 3,2 30 ) 9/ 25 /2 00 6 51 ,24 3,8 57 75 ,70 3,8 18 (24 ,45 9,9 62 ) 12 /1 8/ 20 06 54 ,68 6,8 10 76 ,84 3,1 40 (22 ,15 6,3 30 ) 3/ 23 /2 00 7 46 ,87 7,6 34 99 ,66 9,1 94 (52 ,79 1,5 60 ) Bel ow ar e th e am ount s o f to ta l d iv id en ds th atFECP tran sf erre d t o M es se rs . Ro bb , Kard as h, St an to n, an d Hu gh es du rin g 2 00 5, 2 00 6, an d 2 00 7. Sh areh ol de r 20 05 20 06 20 07 Ch arl es K. Rob b $19 9,8 90 $2 55 ,00 0 $7 ,50 0 W il li am J. Kard as h, Sr
. 1,54 9,9 90 1,9 55 ,00 0 57 ,50 0 Jo hn Sta nt on 7,99 9,5 00 10 ,20 0,0 00 30 0,0 00 Ral ph Hug he s 7,99 9,5 00 10 ,20 0,0 00 30 0,0 00 Tot al 17 ,74 8,8 80 22 ,61 0,0 00 66 5,0 00 Pet it io ne rs ti m el y

fil edth ei r Ru le 16 1 m ot io ns ask in g u s t o re co ns id er an d
m od ify our op in io n i n Kar da sh v. Co m m is si on er, T.C. Mem o. 2 01 5- 51
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[* 7] OPINION Rec on si de rat io n u nd er Ru le 16 1 s erv es th e li m it edpu rp os e o f co rrec ti ng subs tant ia l erro rs of f

actor l aw an d a ll ows th e in tro du ct io n o f ne wly di sc ov ered
ev id en ce tha t the m ov in g p arty co ul d n otha ve in tro du ced , by th e ex erci se of due di li ge nc e, in th e p rio r pr oc eed in g. Es ta te of Qu ic k v . Comm is si on er, 1 10 T.C. 44 0, 4 41 (19 98 ). W e u su al ly do n otgra ntm ot io ns forreco ns id erat io n abs en t a sh owi ng of u nu su al cir cu m st an ces or s ub st an ti al erro r. CW T Farm s, In c. v. Co m m is si on er, 7 9 T.C. 1 05 4, 1 05 7 (1 98 2) , aff’d, 7 55 F.2d79 0 (1 1t h C ir. 1 98 5)
. Pet it io ne rs ha ve rai se d v al idco nc ern s as to th e v al ua ti on s o f FECP an d the Fed eral in co m e ta x l iabi li ti es forth e y ears at i ss ue , sp eci fic al ly 200 5. The bu rd enof p ro of

as t o tran sf

eree li ab il ity

is on th e Co m

mis si on er. Sec
. 69 02 (a); Ru le 14 2( d) . W e fi ndth atres po nd en t p ro ve d the tra ns fers in20 05 were frau du le nt . Pet it io ne rs co nt en d tha t the Co urt erredinva lu in g F ECP’s so lv en cy by rel y in g o n p et it io ne rs ’ ex pe rt’s h ig h e st im at es of F ECP’s ta x l iabi li ti es in st eadof th e Fed eral in co m e ta x l iabi li ti es as s ti pu la te d b y th e p art ie s. Alt ho ug h p et it io ne rs di d n otin it ia ll y

ag ree t o andst ip ul at e th e li ab il it ie s tha t re sp on de nt ’s exp ert de te rm in ed , we agr ee wi th pe ti ti on ers th atres po nd en t’s es ti m at es sh ou ldhave be enus ed . Mor eo ve r, pe ti ti on ers po in t o utth atth e Co urt erredwhen st at in g Dr.-8
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[* 8] Sh ak ed ’s bu si ne ss en te rp ris e v al ue forth e v al ua ti on date Decem be r 28 , 20 05
. The st at edest im at e was $5 7,3 11 ,60 6, b utth e actua l es ti m at e was $5 8,3 11 ,60 6,
un de rv al ui ng Dr. Sha ke d’s es ti m at e. Pet it io ne rs co nt en d tha t wi th th is co rrec ti on , FECP wou ldbe so lv en t fo r th e 20 05 tax y ear. We agre e, bu t fo r th e sa ke of c larit y , we dee m itne ces sa ry

to di sc us s o urva lu at io n i n g reat er d et ai l tha n we d idpre vi ou sl y .

“ ‘V al ua ti onis * * * n eces sa ril y anap pr ox im at io n.’ It i s an in ex actsci en ce atbe st , cap ab le of r es ol ut io n o nl y by ‘ So lo m on -li ke ’ pr on ou nc em en ts .” Sta nl ey W orks & Subs . v. Co m

m is si on er, 8 7 T.C. 3 89 , 40 8 (1 98 6) (al te rat io n i n o rig in al ) (quo ti ng Sil ve rm anv. Co m m is si on er, 5 38 F.2d92 7, 9 33 (2dCir . 19 76 ), aff’g T.C. Mem o. 1 97 4- 28 5) . “ [F]in di ng m ark etva lu e is , aft er al l, s om ethi ng forjud gm en t,
ex pe rie nc e; an d re as onon th e p a[r]t o f th e tr ie r, an d d oe s n otlen d i ts el f to di ss ect io n andsep arat e ev al ua ti on .” Id . (qu ot in g C ol on ia l Fabr ic s v . Co m m is si on er, 2 02 F.2d10 5, 1 07 (2dCir . 19 53 )). “ [W] e are no t b ou ndby the op in io n o f an y

ex pe rt wi tn es s an d wi ll acce ptor r ejectex pe rt t es ti m on y inth e ex erci se of s ou ndjud gm en t.” Es ta te of Ne who us e v . Commis si on er, 9 4 T.C. 1 93 , 21 7 (1 99 0)
. W e rel y lar ge ly on Dr. Sh ak ed ’s m ark etm ul ti pl e v al ua ti on to de te rm in e th e so lv en cy of F ECP. Altho ug h Dr. Sh ak edreco m m en ds th e u se of t he ass et-9
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[* 9] accu m

ul at io n v al ue , we di sa gr ee. The ass etaccu m ul at io n v al ue do es no t t ak e FECP’s i nt an gi bl es in to acco un t. We bel ie ve th atFECP h adso m e in tang ib le
as se ts with v al ue an d the refo re re ly on the m ark etm ul ti pl e v al ua ti on th atva lu es FECP as a go in g c on cern . From Dr. Sha ke d’s m ark etm ul ti pl e v al ua ti onitis cle ar th atFECP h ada ne ga ti ve equi ty val ue of $ 12 ,30 8,5 15 on th e tr an sf er d at e, Ja nu ary 27 , 20 06 , anditrem ai ne d i ns ol ve ntth ro ug h M arch 23 , 20 07 . Thu s, we m od ify our in it ia l fi nd in g tha t FECP be cam e in so lv en t i n 2 00 5 andin st eadfin d tha t FECP be cam e in so lv en t s tarti ng Janua ry 27 , 20 06 , andrem ai ne d i ns ol ve ntfor 20 06 an d 20 07
. Pet it io ne rs arg ue th atwe sh ou ldreco ns id er o ur op in io n t o fi ndth em

no t li ab le forth e 2 00 5 tran sf

ers be cau se FECP was so lv en t atth e ti m e o f th e tr an sf ers . Und er Fl or id a’s Uni fo rm Frau du le ntTran sf

er Act(FUFTA), a tran sf er i s frau du le ntif the de bt or

di d n otrece iv e rea so nabl y equi va le ntva lu e an d the de bt or was in so lv en t atth e ti m e o f th e tr an sf er o r be cam e in so lv en t as a res ul t o f th e tra ns fer. Fl a. St at . Ann . sec . 72 6.1 06 (1 ) (West20 12 ). “ Altho ug h the lan gu ag e o f th e UFTA [Uni fo rm

Frau du le ntTran sf

er Act ] sp eak s i n t erm s o f a s in gl e tr an sf er of pro pe rty, a seri es of t ran sf ers m ay als o b e fo un d t o b e fraudul en t.” Be rla ndv.-1 0-

[* 10 ] Mu ss a (Inre Mu ss a), 2 15 B.R. 1 58 , 16 9 (B an kr . N.D. Ill . 19 97 ). Furth er, we 3 ha ve he ldth atin so lv en cy m ay be m eas ur edaft er a s eri es of r el at edtra ns fers whi ch into ta l l eav e th e tr an sf

ero r in so lv en t. See Bo tz v. Hel ve rin g, 1 34 F.2d53 8, 5 43 (8 th Cir . 19 43 ), aff’g 4 5 B .T.A. 970 (19 41 ); s ee al so Hagam anv. Co m m is si on er, 10 0 T.C. 1 80 (19 93 ); Gu m m v. Co m m is si on er, 9 3 T.C. 4 75 , 48 0 (1 98 9) , aff’d witho utpubl is he d o pi ni on , 93 3 F .2d10 14 (9th C ir. 1 99 1) ; Lea chv. Co m m is si on er, 2 1 T.C. 7 0, 7 5 (1 95 3)
. As d is cu ss edinKard as h v . Comm is si on er, at*2 8- *3 1, we h el d tha t the 20 03 an d 2 00 4 tran sf

ers were fo r rea so nabl y

equi va le ntva lu e an d wer e d iff eren t inna tu re fro m

th e tr an sf

ers in20 05 , 20 06 , and20 07 . Alth ou gh we no w fin d tha t FECP was so lv en t dur in g 2 00 5, the tra ns fers were s ti ll co ns tru ct iv el y frau du le nt be cau se th ey

were p artof aser ie s o f tr an sa ct io ns th atledto th e in so lv en cy of FECP. The refo re, we fi ndth atth e tr an sf ers be gi nn in g i n 2 00 5 wer e fraudul en t be cau se th e tr an sf

ers were n otforreas on ab ly equ iv al en t v al ue an d F ECP b ecame in so lv en t as a res ul t o f th e se rie s o f tr an sf ers .
Altho ug h the curren t ca se s ar e subjec t t o F lo rid a la w, th e Il li no is cas e is 3 in st ru ct iv e in in te rp ret in g the Flo rid a st atut e. Ill in oi s, as well as F lo rid a, ha s ad op te d the Uni fo rm

Frau du le ntTran sf

er Act(UFTA). 74 0 ILC S 1 60 /1 to 16 0/ 12 (West 2 01 0) . The g en eral pu rp os e o f UFTA andFUFTA is to m ak e th e la w un ifo rm am on g the Sta te s en act in g i t. Fl a. St at . Ann . sec . 72 6.1 12 (W es t 2 01 2) ; UFTA sec . 11 , 7A (Part I I), U.L.A. 203 (20 06 ).-1 1-

[* 11 ] Pet it io ne rs arg ue th atth e Co urt erredby notfin di ng th atth e p aym en ts in 20 05 , 20 06 , and20 07 were p artof ade ferr edco m pe ns at io n p lan. Th e d oc um en t th atpe ti ti on ers rel y

on m ak es no refe ren ce t o a“ DeferredCo m pe ns at io n P lan”
. Mo reo ve r, th e d oc um en t p et it io ne rs referto st at es th atpe ti ti on ers wou ldbe
en ti tl edto cas h c om

pe ns at io n “ no t t o e xc eed$2 5,0 00 pe r m on th ” an d “pa id
an nu al ly in s to ck ” to th e ex te ntpe ti ti on ers ’ co m pe ns at io n e xc eed s the $2 5,0 00 pe r
m on th . The p aym en ts ex ceed in g $ 25 ,00 0 wer e, ho wev er, m ad e in cas h, n otst oc k,
an d the refo re co ul d n otha ve be enpu rs ua ntto th e p ur po rte d d eferred
co m pe ns at io n p lan. Mo reo ve r, FECP re po rte d the pay m en ts as d iv id en ds on Fo rm s 1 09 9- DIV, Div id en ds an d Di st rib ut io ns , andpe ti ti on ers rep orte d the pa ym en ts as d iv id en ds on th ei r in di vi du al tax returns . Mr. Kard as h a ll eg es th athe is en ti tl edto cred it s ag ai ns t h is tra ns fere e li ab il ity for tax es pa idon trans fers as r ep orte d d iv id en ds . Mr. Kard as h arg ue s tha t th e Gov ern m en t wo ul d re cei ve anin equi tabl e win df al l i f we refu se d t o c red ithi m with the am ou nt s o f ta x h e p ai d o n the tra ns ferr edam ou nt s i n 2 00 5, 2 00 6, an d 20 07 . Reco ns id erat io n u nd er Ru le 16 1 i s n otth e p ro pe r av enue ; s ect io n 1 34 1 i s th e ap pr op ria te rem edy

forMr. Kard as h i n thi s s itua ti on . See Del pi t v . Co m m is si on er, T.C. Mem o. 1 99 2- 29 7 (c it in g M ayna rdHos p., In c. v. Co m m is si on er, 5 4 T.C. 1 67 5 (1 97 0) ).-1 2-

[* 12 ] Mr. Ro bb arg ue s tha t the tra ns fers co ul d n otha ve be endi vi de nd s b ecau se he was n ev er a s to ckho ld er o f FECP b utin st eadrece iv edsh ares of C as t-C ret e st oc k o n Dec em

be r 30 , 20 04 . He als o arg ue s tha t the se sh ares were wo rth le ss be cau se we fo un d F ECP in so lv en t as of 2 00 5. Un de r ei th er Fl or id a’s “ De Fact o Mer ge r” d oc tri ne , see 30 0 P in e Is landAss oc s. v . Ste ve n L. Co he n & Ass oc s., 5 47 So . 2d25 5, 2 56 (Fl a. Dis t. Ct . App . 19 89 ) (ci ti ng Arno ldGrap hi cs Indus ., Inc . v. In de p. Ag en t Ct r., Inc ., 77 5 F .2d38 (2dCir . 19 85 )) o r it s “ Co nt in ua ti on of Bu si ne ss ” d oc tri ne , see Am jad M un im , M.D., P.A. v. Azar, 6 48 So . 2d14 5, 1 54 (Fl a. Dis t. Ct . App . 19 94 ) (ci ti ng Bu d An tl e, In c. v. E. Fo od s, In c., 75 8 F .2d14 51 , 14 58 (11 th Cir . 19 85 )), th e act s co m m it te d, tran sa ct io ns en te redin to , andreco rd s ke ptby Cast -Cre te wou ldbe tre at edas a ct s, tran sa ct io ns , andreco rd s o f FECP. The sh ares is su edinCas t-C ret e’s na m e wil l b e tr eat edas i ss ue d u nd er FECP ’s
na m e. Pet it io ne rs ’ furth er ar gu m en ts are m erel y a reh as h o f le ga l ar gu m en ts fro m th ei r br ie fs , anda m ot io n fo r rec on si de rat io n i s n otth e ap pr op ria te forum for arg um en ts th is Co urt h as pre vi ou sl y reject ed . See Est at e o f Qui ckv. Co m m is si on er, 1 10 T.C. at 4 41 -4 42
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[* 13 ] Inreac hi ng ou r ho ld in gs he rei n, we h av e co ns id eredall arg um en ts m ad e,
an d, t o the ex te ntno t m en ti on edab ov e, we co nc lu de th ey are m oo t, i rrel ev an t, o r witho utm eri t. To re fle ctth e fo reg oi ng , An ap pr op ria te ord er wi ll be is su ed , andde ci si on s wi ll be en te red
un de r Ru le 15 5.