T.C. Memo. 1997-437
UNITED STATES TAX COURT
ANTHONY G. AND SHIRLEY A. OLBRES, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 27160-93. Filed September 25, 1997.
Edward DeFranceschi, for petitioners.
Ronald F. Hood, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
CHIECHI, Judge: Respondent determined the following defi-
ciencies in, and additions to, petitioners' Federal income tax:
Additions to Tax
Sec. Sec. Sec. Sec.
Year Deficiency 6653(b)(1)(A)1 6653(b)(1)(B) 6653(b)(1) 6661(a)
1986 $120,353 $87,750 * -- $29,250
1987 336,457 251,203 ** -- 83,734
1988 122,457 -- -- $91,843 30,614
* 50 percent of the interest due on $117,000.
** 50 percent of the interest due on $334,937.
1 All section references are to the Internal Revenue Code in
effect for the years at issue. All Rule references are to the
Tax Court Rules of Practice and Procedure.
Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011