- 41 - the additions to tax and the negligence penalty resulting from underpayments by the Michoff, Srs. For the taxable years 1986, 1987, and 1988, the contention of Michoff, Jr., that he is not liable for additions to tax for negligence consists of one sentence: “Michael Michoff, Jr., is not liable for the penalties due under IRC [sections] 6653(A)(1)(a) and 6653(A)(1)(b) because he was not guilty of negligence or disregard of rules or regulations.” This contention is not an argument; it is a conclusion. Respondent is sustained on this issue. Michoff, Jr., presented no argument that he is not liable for the negligence penalty for the 1989 tax year. The burden rests with petitioner to prove that respondent's deteminations are in error. Rule 142(a). We cannot be sure that petitioner intended to abandon the issue, but in any case respondent's determination of the applicable penalty resulting from the underpayment of tax must be sustained with respect to the 1989 tax year of Michoff, Jr. For the 1990 tax year Michoff, Jr., and Kimberly Michoff argue that they are not liable for the accuracy-related penalty because they have accounted for all of the deposits which were questioned by the revenue agent. As we have already found, they did not. Respondent is sustained on this issue.Page: Previous 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 Next
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