- 9 -
With respect to petitioner's second contention, we note
that, as a general matter, the unavailability of records is not
reasonable cause for failure to file timely. Crocker v.
Commissioner, supra at 913. A taxpayer is required to file
timely based on the best information available and thereafter to
file an amended return if necessary. Estate of Vriniotis v.
Commissioner, 79 T.C. 298, 311 (1982). Petitioner admits that
during 1993 she timely received Forms W-2 with respect to wages
earned and information reports of interest and pension and
annuity income received during 1992. The only records that she
claims were not available at relevant times were those that had
been taken during the August 1992 search of her husband's and
their accountant's offices. Petitioner's general testimony as to
the nature of the information contained in those records did not
identify any such information that was essential to the
preparation of her return. Furthermore, she did not make any
effort either to gain access to those records for the purpose of
preparing her return or to obtain the information contained in
them from other sources. Petitioner was required to make
reasonable estimates of amounts required to be shown on her
return based on the information available to her. Electric &
Neon, Inc. v. Commissioner, 56 T.C. 1324, 1343 (1971), affd.
without published opinion 496 F.2d 876 (5th Cir. 1974).
Petitioner did not apply for an extension of time to file her
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011