Tracy P. STREBER, Teresa P. Deloney, Stephen J. Davis, Petitioners-Appellants,
v.
COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.
United States Court of Appeals, Fifth Circuit.https://leagle.com/images/logo.png
April 15, 1998.
April 15, 1998.
Attorney(s) appearing for the Case
Michael L. Cook, Patrick Lewis O'Daniel, Jenkins & Gilchrist, Austin, TX, for Petitioners-Appellants.
Marion Elizabeth Erickson, Loretta Argrett, Asst. Atty. Gen., U.S. Dept. of Justice, Tax Div., App. Section, Washington, DC, Gilbert S. Rothenberg, Gary R. Allen, U.S. Dept. of Justice, Tax Div., Washington, DC, Charles Casazza, Clerk, U.S. Tax Court, Washington, DC, Stuart L. Brown, Chief Counsel IRS, Washington, DC, for Resspondent-Appellee.
Casey LeGate Dobson, Scott, Douglas, Luton & McConnico, Austin, TX, Farley P. Katz, Charles J. Muller, III, Wells, Pinckney & McHugh, San Antonio, TX, for Hunter, Edwin Hunter Professional Law Corp., Dupuy, Hunter & Boland, Blazier, O'Dowd and Hunter, Blazier, O'Dowd & Moreno, A Professional Law Corp., Amici Curiae.
Before KING and JONES, Circuit Judges, and KENDALL, District Judge.
United States Court of Appeals, Fifth Circuit.
EDITH H. JONES, Circuit Judge:
Two sisters were about 20 and 25 years old when they received over a million dollars each, and they hired a lawyer to advise them on potential tax liability. The Commissioner charged them with negligence and substantial understatement penalties2 for treating the money as a gift even though they followed one alternative course recommended by the tax lawyer and even though the Commissioner herself relied on...
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