2 Respondent determined a deficiency in petitioner's Federal income tax for the taxable year 1991 in the amount of $172. Respondent further determined that petitioner owed employment taxes pursuant to the Federal Insurance Contributions Act (FICA taxes) in the amount of $1,209. At the time of filing the petition, petitioner resided in Fair Lawn, New Jersey. The issues are: (1) Whether this Court has jurisdiction to review respondent's determination with respect to FICA taxes; and (2) whether petitioner underreported the amount of commission income she received during 1991. FINDINGS OF FACT The facts may be summarized as follows. During 1991, petitioner was employed by the New York Partnership Exchange, Inc. (NYPE).2 NYPE facilitated the sale of partnership interests. Petitioner received commissions for successfully matching buyers and sellers. On her 1991 Federal income tax return petitioner reported commission income in the amount of $14,684. Petitioner prepared this return without the benefit of a Form 1099, which she received after April 15, 1992. When the Form 1099 finally arrived, it indicated that petitioner received commission income in the amount of $15,813 for 1991. Petitioner computed her 1991 commission income by adding the individual 2 Although initially the subject of some dispute, the parties agree that petitioner served as an employee, and not as an independent contractor.Page: Previous 1 2 3 4 Next
Last modified: May 25, 2011