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universally, held by the courts of this republic to be income,
subject to the income tax laws currently applicable."); United
States v. Buras, 633 F.2d 1356, 1361 (9th Cir. 1980); Abrams v.
Commissioner, supra at 407; Rowlee v. Commissioner, supra at
1119-1122; Reiff v. Commissioner, 77 T.C. 1169, 1173 (1981);
Reading v. Commissioner, 70 T.C. 730 (1978), affd. 614 F.2d 159
(8th Cir. 1980); McNeel v. Commissioner, T.C. Memo. 1995-211;
Fischer v. Commissioner, T.C. Memo. 1994-586; Zyglis v.
Commissioner, T.C. Memo. 1993-341, affd. without published
opinion 29 F.3d 620 (2d Cir. 1994); Fox v. Commissioner, T.C.
Memo. 1993-277; Williams v. Commissioner, T.C. Memo. 1988-368;
Allen v. Commissioner, T.C. Memo. 1987-242; Hebrank v.
Commissioner, T.C. Memo. 1982-496; see sec. 61(a)(1).
Because the petition and the amended petition fail to state
a claim upon which relief can be granted, we shall grant so much
of respondent's motion that moves to dismiss. See Scherping v.
Commissioner, 747 F.2d 478 (8th Cir. 1984).
We turn now to that part of respondent's motion that moves
for an award of a penalty against petitioner under section
6673(a).
As relevant herein, section 6673(a)(1) authorizes the Tax
Court to require a taxpayer to pay to the United States a penalty
not in excess of $25,000 whenever it appears that proceedings
have been instituted or maintained by the taxpayer primarily for
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