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they took out a mortgage for the remaining $40,700 of the
purchase price. The cash due from the Zimmermans at closing was
$154.45 for tax, stamps, and recording fees. The Zimmermans'
monthly mortgage payment was $420.10, for total payments of
$1,680.40 in 1988. The mortgage payment increased to $450.10 per
month in August of 1989, for total mortgage payments of $5,191.20
in 1989.
During the years at issue, the Zimmermans purchased no
expensive items, nor did they take any trips other than to attend
family funerals. They did not belong to any clubs. Petitioner
purchased many of the household items and baby supplies at K-Mart
and Wal-Mart.
For the years at issue, petitioner filed joint Federal
income tax returns with her husband, Charles R. Zimmerman.4
Those returns were prepared by Rosemarie Jacques of Rosie's
Accounting Service, Inc., who held herself out as a certified
public accountant. On the Zimmermans' Form 1040 for the taxable
year 1988, they reported $2,000 in wages, $1,376.20 in net
Schedule C business income, and no other income; an earned income
4 The petition in this case was originally captioned in the
names of both spouses, but the attorney filing that petition had
not been authorized to represent Mr. Zimmerman. By order dated
May 27, 1994, the Court afforded Mr. Zimmerman an opportunity to
ratify and affirm the filing of the petition on his behalf. No
response from Mr. Zimmerman having been received, the Court, by
order dated July 6, 1994, dismissed the case for lack of
jurisdiction as to Mr. Zimmerman and changed the caption of the
case.
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