-16-
each account (after reduction for the maximum reported rents that
could have been received in cash) represented unreported income of
Ms. Ng:
1988 Cash Deposits
Union Bank (39 deposits) $59,157
Bank of the Orient (53 deposits) 67,545
Rent reduction (48,541)
Adjustment $78,161
Ms. Ng also made deposits of checks from her restaurants and
other identified and unidentified sources. She made wire transfers
of unidentified funds to Sumitomo Bank. She used cash from
unidentified sources to purchase cashier's checks. She made
contributions to capital and loans to her restaurants with
unidentified funds. Ms. Ng made numerous check and cash deposits
into her accounts at Hang Seng Bank and Wing Lung Bank in Hong
Kong, and numerous wire deposits from the Hong Kong banks to her
Bank of America account in San Francisco.
Cash and check deposits into Ms. Ng's account at Hang Seng
Bank were as follows:
Year Total Deposits
1986 $170,910
1987 228,512
1988 42,835
1989 60,686
1990 21,350
The revenue agent reduced these deposits by $30,000 to account for
two transfers ($15,000 in 1986 and $15,000 in 1987), and the
revenue agent determined the remaining amounts to be unreported
income.
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