- 2 - Additions to Tax3 Sec. Sec. Sec. Year Deficiency 6653(b)(1)(A) 6653(b)(1)(B) 6653(b)(1) 1987 -0- $48,272.78 $6,565.11 --- 1988 -0- --- --- $39,920.66 Background Petitioner invoked the jurisdiction of this Court on November 23, 1994, by timely filing a petition for redetermination. Petitioner resided in Schnecksville, Pennsylvania, at the time the petition was filed. Respondent's answer, filed on March 6, 1995, after an extension to file the answer was granted, asserted affirmative allegations of fact in support of the foregoing additions to tax for fraud. Respondent's answer reads, in pertinent part, as follows: 7. FURTHER ANSWERING the petition, and in support of the determination that a part of the underpayments of tax required to be shown on the petitioner's income tax returns for the taxable years 1987 and 1988 are due to fraud, the respondent alleges: 2(...continued) subsequent to being contacted by the Internal Revenue Service regarding the examination of his originally filed 1987 and 1988 returns, petitioner filed amended returns wherein he admitted understating his tax liabilities for 1987 and 1988 in the amounts of $64,363.71 and $53,227.64, respectively. The filing of amended returns, however, does not vitiate any fraud perpetrated when the returns were due. See Badaracco v. Commissioner, 464 U.S. 386, 394 (1984). 3 The additions to tax for fraud determined by respondent in the notices of deficiency were based on the understated tax liabilities reported by petitioner on his amended 1987 and 1988 returns.Page: Previous 1 2 3 4 5 6 7 8 Next
Last modified: May 25, 2011