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agrees with and adopts the opinion of the Special Trial Judge,
which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
PANUTHOS, Chief Special Trial Judge: This matter is
presently before the Court on respondent's Motion for Summary
Judgment. As explained in greater detail below, we will grant
respondent's motion.
Background
On March 22, 1995, respondent mailed a notice of deficiency
to petitioner determining deficiencies in the amounts of $236,973
and $146,140 in petitioner's Federal income taxes for the taxable
years 1992 and 1993, respectively. In addition, respondent
determined that petitioner is liable for the penalty for fraud
under section 6663(a) in the amounts of $177,730 and $109,605 for
the taxable years 1992 and 1993, respectively.
Petitioner filed a timely petition for redetermination with
the Court on May 1, 1995.2
Respondent filed a timely answer to the petition which
includes affirmative allegations in support of respondent's
determination that petitioner is liable for the penalty for fraud
for the taxable years in issue. Petitioner failed to file a
reply to respondent's answer within the 45-day period prescribed
in Rule 37(a). As a consequence, respondent filed a motion
2 At the time that the petition was filed, petitioner was
incarcerated in a Federal prison in Lexington, Kentucky.
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