Robert W. Ackerman and Patricia A. Ackerman - Page 2

                                        - 2 -                                         


          and Rules 180, 181, and 183.1  The Court agrees with and adopts             
          the opinion of the Special Trial Judge, which is set forth below.           
                         OPINION OF THE SPECIAL TRIAL JUDGE                           
               DEAN, Special Trial Judge:  Respondent determined                      
          deficiencies in, additions to, and increased interest on                    
          petitioners' Federal income tax as follows:                                 

                         Additions to Tax                                             
          Sec.            Sec.             Sec.        Sec.                           
          Year    Deficiency1     6653(a)(1)      6653(a)(2)       6659       26661   
          1978     $30,342        $1,517.10           --         $8,315.40  $7,585.50 
          1979      20,794         1,039.70           --          6,210.00   5,198.50 
          1981      25,168         1,258.40     50 percent of     7,550.40   6,292.00 
          interest due                                                                
          on $25,168                                                                  
          1982      15,720           786.00     50 percent of     2,607.90   3,930.00 
          interest due                                                                
          on 3$8,693                                                                  
          1    Sec. 6621(c) interest is determined to apply to the entire deficiency as
          determined for each of the taxable years 1978, 1979, 1981, and 1982.        
          2                                                                           
               Sec. 6661 is asserted as an alternative to sec. 6659.  In the          
          alternative, the addition is asserted as 25 percent of the underpayments of 
          $30,342, $20,794, $25,168, and $15,720 for the taxable years 1978, 1979, 1981,
          and 1982, respectively.                                                     
          3    This amount is taken from the partial copy of the notice of deficiency 
          attached to the petition.  We note that this amount differs from the amount 
          listed in respondent's Trial Memorandum filed February 2, 1995.             
               Petitioners conceded on opening statement that they do not             
          dispute the accuracy of the deficiencies and additions to tax and           
          the interest on tax motivated transactions contained in the                 
          statutory notice of deficiency, as modified by respondent's trial           


          1Unless otherwise indicated, all section references are to                  
          the Internal Revenue Code in effect for the years in issue.  All            
          Rule references are to the Tax Court Rules of Practice and                  
          Procedure.                                                                  




Page:  Previous  1  2  3  4  5  6  7  8  9  Next

Last modified: May 25, 2011