- 8 - greater of $5,000 or 10 percent of the amount of tax required to be shown on a return. Sec. 6662(d)(1)(A). The accuracy-related penalty under section 6662(b)(2) does not apply with respect to any portion of an underpayment if it is shown that there was reasonable cause for such portion and that the taxpayer acted in good faith with respect to such portion. Sec. 6664(c)(1). It is clear from the undisputed facts that the reasonable cause exception under section 6664(c)(1) is not applicable in the instant case. Accordingly, the penalty determined by respondent is sustained. Respondent has established that this case presents no genuine issue as to any material fact and that she is entitled to summary judgment as a matter of law. Accordingly, we shall grant respondent's motion for summary judgment to sustain the deficiency and penalty determined in the notice of deficiency.5 An order will be issued and decision will be entered for respondent. 5In her petition, petitioner sets forth two grounds for contesting the adjustments contained in the notice of deficiency. This opinion addresses the principal ground. It can also be gleaned from the petition that petitioner is contesting the notice of deficiency on grounds that her husband should be jointly and severally liable for the deficiency because the couple filed a joint Federal income tax return for the year at issue. Although respondent has determined that petitioner's husband qualifies for relief under sec. 6013(e), whether petitioner's husband is jointly and severally liable for the deficiency at issue has no bearing on whether petitioner herself is liable for such deficiency.Page: Previous 1 2 3 4 5 6 7 8
Last modified: May 25, 2011