The opinion of the court was delivered by: Otis D. Wright II United States District Judge
Pursuant to the Stipulation to Resolve Complaint to (1) Reduce Federal Tax Assessments to Judgment, (2) Set Aside Michael Adkins as Nominee or Transferee of Sinbad Adkins, and (3) Foreclose Federal Tax Liens on Real Property, and for good cause showing:
1. On December 10, 2009, the United States filed its Complaint to
(1) Reduce Federal Tax Assessments to Judgment, (2) Set Aside Michael Adkins as Nominee or Transferee of Sinbad Adkins, and (3) Foreclose Federal Tax Liens on Real Property (Complaint).
First Cause of Action: Reduce Tax Assessments to Judgment
2. Sinbad Adkins, aka David Adkins, has unpaid income tax liabilities for tax years 1998 through 2006.
3. The Complaint was filed prior to the expiration of the statute of limitations on collection for Sinbad Adkins' income tax liabilities for tax years 1998 through 2006.
4. As of September 30, 2009, the balance due from Sinbad Adkins for his unpaid income tax liabilities for tax years 1998 through 2006 was as follows:
Tax YearAccrued Balance Due as of 9/30/09
5. The balance due includes both assessed and accrued tax liabilities, additions to tax, interest, fees, and collection costs.
6. The Court hereby orders judgment in favor of the United States of America and against Sinbad Adkins for his federal income tax liabilities in the amount of $8,157,725.18 as of September 30, 2009 for tax years 1998 through 2006, plus accrued but unassessed interest and additions to tax in accordance with the law.
7. Interest on the judgment will run in accordance with the laws of the United States.
8. This resolves the First Cause of Action in favor of the United States.
Second Cause of Action: Set Aside Michael Adkins as Nominee
9. Michael Adkins holds bare legal title to the real property located at 5950 Spring Valley Road, Hidden Hills, California (the property), APN 2049‐003‐ 029, legally described as follows:
Lot 42 on Los Angeles County Assessor Map No. 65 as per Map Recorded in Book 1 Pages 19 to 24 inclusive of Assessors Maps, in the Office ...