Thomas L. Hobart - Page 1

                                         T.C. Memo. 1995-519                                               

                                       UNITED STATES TAX COURT                                             

                                 THOMAS L. HOBART, Petitioner v.                                           
                         COMMISSIONER OF INTERNAL REVENUE, Respondent                                      

                  Docket No. 25649-93.       Filed October 30, 1995.                                       

                  Gregory Daniel Smith, for petitioner.                                                    
                  Linda J. Wise, for respondent.                                                           

                            MEMORANDUM FINDINGS OF FACT AND OPINION                                        
                  COHEN, Judge:  Respondent determined a deficiency in the                                 
            amount of $132,675 in petitioner's Federal income tax for 1988                                 
            and an addition to tax pursuant to section 6653(b)(1) in the                                   
            amount of $101,783.  Respondent asserted the delinquency and                                   
            negligence additions to tax under sections 6651(a)(1) and                                      
            6653(a)(1), respectively, in the alternative to the fraud                                      
            addition to tax.  Unless otherwise noted, all section references                               

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