Joao Montoro and Neuza Paula - Page 1

                                 T.C. Memo. 1997-281                                  


                               UNITED STATES TAX COURT                                


                    JOAO MONTORO AND NEUZA PAULA, Petitioners v.                      
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 6182-95.             Filed June 23, 1997.                   


               Charles L. Steel IV, for petitioners.                                  
               Jeanne Gramling, for respondent.                                       


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               COLVIN, Judge:  Respondent determined deficiencies in                  
          petitioners' Federal income tax and additions to tax as follows:            
          Additions to Tax                                   Penalty                  
                                  Sec.           Sec.      Sec.                      
          Year    Deficiency         6653(a)1     6661        6662                    
          1987      $5,592         $280      $1,398         --                        
          1988       4,604         230            --        --                        
          1990      33,961              --        --        $5,007                    
          1991      96,366              --        --        17,108                    
          1 Respondent determined that petitioners are liable for an addition to tax for
          negligence under sec. 6653(a)(1)(A) for 1987, 50 percent of the interest due on the
          underpayment attributable to negligence under sec. 6653(a)(1)(B) for 1987, and an
          addition to tax for negligence under sec. 6653(a)(1) for 1988.              



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