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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.
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