Court Opinion

ID: 9486337
Source: CourtListenerOpinion
Date Created: 2023-08-05 11:45:00.396667+00
Date Added: 2024-06-11T17:51:39.537155
License: Public Domain

BLACK, Circuit Judge,
concurring:
I concur with the majority opinion affirming the dismissal of the taxpayers’ suit by the district court, especially since the controlling issues were identical to those in the related tax court case and the same attorney represented both the taxpayers and the other Nitrol investors.
I write only to underscore my position that, in enacting 26 U.S.C. § 7121, Congress intended a closing agreement to be “final and conclusive” as to the matters agreed upon by the taxpayer and the government, except upon a showing of fraud or malfeasance, or misrepresentation of a material fact. See 26 U.S.C. § 7121(b). I do not believe that this opinion should be read to, undermine the integrity of a closing agreement or that its efficacy be diluted in any way. Once a closing agreement is executed, it cannot be modified or the case reopened. Id. § 7121(b)(1).