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U.S. v. LEUNG

United States District Court, N.D. California, San Francisco Division


December 2, 2005.

UNITED STATES OF AMERICA, Plaintiff,
v.
BRUCE K.T. LEUNG, EVERHOME MORTGAGE, and STATE OF CALIFORNIA, FRANCHISE TAX BOARD. Defendants.

The opinion of the court was delivered by: ELIZABETH LAPORTE, Magistrate Judge

STIPULATION RE SETTLEMENT AND ORDER OF DISMISSAL

IT IS HEREBY AGREED AND STIPULATED by and between plaintiff United States of America and defendants Bruce K.T. Leung, Everhome Mortgage and California State Franchise Tax Board, by and through their undersigned attorneys, as follows:

  1. This action was brought by the United States to reduce to judgment outstanding federal income tax assessments against defendant Bruce K.T. Leung for the tax years 1988, 1989, 1990, 1991 and 1992, and to foreclose federal tax liens related to said income tax assessments against the real property located at 58 Longview Drive, Daly City, California, which is owned by defendant Bruce K.T. Leung.

  2. Defendant Everhome Mortgage was joined as a party pursuant to 26 U.S.C. § 7403(b) because it claims an interest in the real property by virtue of a deed of trust with a current balance due of approximately $111,000.00 recorded June 21, 1988. 3. Defendant State of California, Franchise Tax Board was joined as a party pursuant to 26 U.S.C. § 7403(b) because it claims an interest in the real property by virtue of its state statutory tax lien in the amount of $6,540.00 dated April 15, 1994.

  4. Plaintiff United States of America and defendant Bruce K.T. Leung hereby agree and stipulate that:

(a) the correct federal income tax liability for defendant Bruce K.T. Leung for his 1988 tax year is $1,171.00, plus interest and additions to tax in accordance with the law:
(b) the correct federal income tax liability for defendant Bruce K.T. Leung for his 1989 tax year is $3,588.00, plus interest and additions to tax in accordance with the law:
(c) the correct federal income tax liability for defendant Bruce K.T. Leung for his 1990 tax year is $2,968.00, plus interest and additions to tax in accordance with the law:
(d) the correct federal income tax liability for defendant Bruce K.T. Leung for his 1991 tax year is $7,145.00, plus interest and additions to tax in accordance with the law; and
(a) the correct federal income tax liability for defendant Bruce K.T. Leung for his 1992 tax year is $7,633.00, plus interest and additions to tax in accordance with the law.
  5. Because plaintiff United States of America has collected a sum of money sufficient to fully pay the federal income tax liabilities, plus interest and additions to tax in accordance with the law, of defendant Bruce K.T. Leung for the tax years 1988, 1989, 1990, 1991 and 1992, as set forth in paragraph 4 above, plaintiff United States of America will not pursue its foreclosure claim. 6. Plaintiff United States of America and defendants Bruce K.T. Leung, Everhome Mortgage and California State Franchise Tax Board hereby agree and stipulate that this action be dismissed pursuant to Rule 41(a) of the Federal Rules of Civil Procedure.

  ORDER

  Pursuant to the Stipulation of the parties and Rule 41(a) of the Federal Rules of Civil Procedure, this action is hereby dismissed.

  ORDERED.

20051202

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