Daniel V. Presnick - Page 6

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          and was nonetheless unable to file a return within the prescribed           
          time.  United States v. Boyle, supra at 246.  The addition to tax           
          equals 5 percent of the tax required to be shown on the return              
          for the first month with an additional 5 percent for each                   
          additional month or fraction of a month during which the failure            
          to file continues, not to exceed a maximum of 25 percent.  Sec.             
               Petitioner stated that he did not feel that he should be               
          called upon to pay a penalty because as far as he was concerned             
          his income was zero, aside from his interest and dividends.                 
          Petitioner's belief that he did not owe any tax does not                    
          constitute reasonable cause under section 6651(a)(1), especially            
          considering the fact that petitioner is a former attorney.                  
          Krieger v. Commissioner, T.C. Memo. 1993-347, affd. without                 
          published opinion 64 F.3d 657 (4th Cir. 1995).  We find that                
          petitioner has failed to show that his failure to timely file his           
          returns was not due to willful neglect or that such failure was             
          due to reasonable cause.  Therefore, we hold that petitioner is             
          liable for the section 6651(a)(1) additions to tax.                         
               The third issue for decision is whether petitioner is liable           
          for the section 6654(a) additions to tax for failure to make                
          estimated income tax payments for 1991, 1992, and 1993.                     
               Unless the taxpayer demonstrates that one of the statutory             
          exceptions applies, imposition of this addition to tax is                   
          mandatory where prepayments of tax, either through withholding or           

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