Connie D. Ray and Roma Kay Ray - Page 2

                                          2                                           
          Penalty                                                                     
          Year     Deficiency      Sec. 6662                                          
          1990      $1,859          $372                                              
          1991       6,891         1,378                                              
          1992       1,157           231                                              
               All statutory references are to the Internal Revenue Code              
          in effect for the years in issue, and all Rule references are to            
          the Tax Court Rules of Practice and Procedure, except as                    
          otherwise noted.                                                            
               By stipulation of the parties, this case was submitted under           
          Rule 122.  By further stipulation, petitioners have conceded the            
          deficiencies in tax that were determined by respondent for the              
          years 1991 and 1992.  As to the year 1990, petitioners have                 
          conceded all respondent's adjustments to income except                      
          respondent's determination that petitioners' receipt of $43,469             
          of income in that year constituted income subject to self-                  
          employment tax, rather than rental income as claimed by                     
          petitioners.  As to the penalties, petitioners have explicitly              
          not conceded the determined penalties for the years 1991 and                
          1992; the determined penalties for the year 1990 are not                    
          mentioned in the parties' stipulation of settled issues, and we             
          therefore consider this item still to be in dispute.                        
               Petitioners Connie D. Ray and Roma Kay Ray, husband and                
          wife, filed joint income tax returns for the years 1989, 1990,              
          1991, and 1992.  At the time the petition herein was filed,                 
          petitioners were residents of Texas.                                        





Page:  Previous  1  2  3  4  5  6  7  Next

Last modified: May 25, 2011