- 9 -
In December 1991, Esquivel typed a check payable to
petitioner's wife for $48,923.20. The notation on the check was
"Loans $548,923.20, 1st payment $48,923.20" with a balance
showing of $500,000.
Bradley sent to petitioner a letter dated March 11, 1992.
The letter was in response to a request from petitioner. The
letter addressed the accounting and tax status of petitioner and
his business entities. In relation to Interservice, Bradley
stated:
The Federal Income Tax Return for this Company is due
July 15, 1992. It was put on extension to that date
because I do not have the information necessary to
prepare the tax return. Enclosed are copies of letters
dated January 16 and February 20, 1992. I have yet to
receive any information from these requests. From
discussions I have had with Ms. Gloria Rodriguez, your
bookkeeper, it is my understanding that there are no
general ledger, cash receipts or disbursements journals
on this Company and that there is no sharing of
accounting information between Gloria and Lorena in
order to produce this accounting data needed for the
tax return.
Someone is going to have to do the bookkeeping on this
Company for the year ended October 31, 1991 and produce
a balance sheet and income statement for the year with
bank accounts reconciled and capital accounts tied to
the prior year end closing. Gloria is the logical
person to do this, but Lorena is going to have to work
with her and get her accounting data other than bank
statements and canceled checks.
In relation to petitioner's personal account, Bradley stated:
Your tax return is due April 15, 1992. We can, if
necessary obtain an extension of time to August 15,
1992 to file the return if we need the additional time.
We will need a copy of your Mexico tax return for 1991,
interest income you received and all interest expense
paid listed by recipient and purpose of borrowing. I
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