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Stanley C. Morse and Beverlee Smith Morse, Individuals v. United States of America

UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA SOUTHERN DIVISION


November 9, 2012

STANLEY C. MORSE AND BEVERLEE SMITH MORSE, INDIVIDUALS, PLAINTIFFS,
v.
UNITED STATES OF AMERICA,
DEFENDANT.

The opinion of the court was delivered by: Andrew J. Guilford United States District Judge

JS-6

Judgment [No Hearing Required]

Based on the Stipulation of Facts and Issues to Resolve the Case filed by the parties, and all other matters properly made part of the record:

IT IS ORDERED that for tax year 2006, Plaintiffs are entitled to a casualty loss of $814,000 and a refund of $247,343 plus interest as allowed by law.

IT IS FURTHER ORDERED that the refund of $247,343 plus interest as allowed by law will be offset and applied to Plaintiffs' outstanding tax liabilities for tax year 2007.

IT IS FURTHER ORDERED that Plaintiffs shall to forego any Net Operating Loss (NOL) for tax year 2006 related to the casualty loss and are prohibited from seeking to apply such NOL to any other tax year.

IT IS FURTHER ORDERED The parties will each bear their own costs and attorney's fees.

IT IS SO ORDERED.

Respectfully presented by: ANDRE BIROTTE JR. United States Attorney SANDRA R. BROWN Assistant United States Attorney Chief, Tax Division GAVIN L. GREENE Assistant United States Attorney Attorneys for United States of America

20121109

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