- 2 -
MEMORANDUM FINDINGS OF FACT AND OPINION
PARR, Judge: Respondent determined deficiencies in
petitioners' Federal income tax and additions to tax as follows:
Joseph T. and Nancy Walker
Docket No. 4923-90
Additions to Tax
Year Deficiency Sec. 6653(b)1
1978 $96,900.21 $48,450.11
1979 104,619.49 52,309.75
1980 183,321.39 91,666.07
1981 124,031.84 62,015.92
1 The fraud addition was determined as to Joseph T.
Walker only.
West Jersey Manufacturing Co., Inc.
Docket Nos. 18842-90 and 28294-91
Additions to Tax
Sec. Sec. Sec.
Sec.
Year Deficiency 6653(a)(1) 6653(a)(2) 6653(b) 6661
3/31/78 $963.00 -- -- $481.50 -
3/31/79 123,397.51 -- -- 60,998.96 -
3/31/80 81,435.75 40,717.87 -
-- --
3/31/81 174,068.45 85,263.85 -
-- --
3/31/82 101,585.07 101,585.07 -
-- --
3/31/83 0.00 $7,286.48 1 $36,432.38
--
3/31/85 88,180.05 4,409.00 2 -- 22,045.01
150 percent of the interest due on $145,729.51.
250 percent of the interest due on the deficiency.
After concessions, the remaining issues we must decide are:
(1) Whether respondent's determination with respect to unreported
taxable income of petitioner Joseph T. Walker (Mr. Walker), for 1978,
1979, 1980, and 1981, should be reduced to take into account certain
alleged additional cash payments Mr. Walker made to two individuals
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011