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revenue agent that he maintained separate bank accounts for
personal and business activities. We do not find that petitioner
husband made false statements to a revenue agent. Petitioner
husband's business and banking activities were disorganized and
he did not properly keep separate accounts for business and
personal activities. We are persuaded that petitioner husband's
statement, while mistaken in part, was not intentionally false or
misleading.
Respondent points out that petitioner husband wrote checks
to Americana investors and noted on the checks that they were
commissions. Similarly, respondent claims that petitioner
husband falsified business expenses by misrepresenting the
purpose of the payments on the checks and on schedules he gave to
respondent. We disagree. We think this is another example of
petitioner husband's failure to keep records and the disorganized
state of his business affairs. We do not find that petitioner
husband intentionally made false or misleading statements to
respondent's agents, or that he was uncooperative with
respondent's agents.
Respondent's counsel and petitioners' counsel worked hard to
reconstruct petitioners' finances. Respondent contends that this
shows the extent of petitioner husband's efforts to conceal his
financial affairs. We disagree. We think it shows petitioners'
belated cooperation with respondent's agents in attempting to get
to the bottom of petitioner husband's finances.
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