Kenneth Siebert - Page 3

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          at the law firm of Hercules & Lavery for approximately $400 per             
          month, and he referred to the firm approximately a dozen of his             
          clients who required specialized work.  In early 1989, Hercules &           
          Lavery asked petitioner to vacate the leased premises after they            
          discovered that he was holding himself out as a member of their             
               B.  Petitioner's Dealings With James Franz                             
               In January 1987, James Franz hired petitioner to create a              
          retirement plan.  He paid petitioner a $10,000 retainer.  On                
          December 6, 1988, petitioner incorporated Showwalter, Inc.                  
          (Showwalter), under Texas law.  Mr. Franz served as Showwalter's            
          sole shareholder and director.  Petitioner subsequently created a           
          profit-sharing plan for Showwalter and prepared and filed an                
          application with the Internal Revenue Service (IRS) to determine            
          whether the profit-sharing plan was a qualified plan under the              
          Internal Revenue Code.                                                      
               C.  Petitioner's Dealings With Virginia Shaw                           
               In December 1987, Virginia Shaw hired petitioner to prepare            
          her 1987 tax return.  In 1988, she paid him a $5,000 retainer in            
          five $1,000 monthly installments.  On August 12, 1988, petitioner           
          filed a request for a 2-month extension of time to file Ms.                 
          Shaw's return.  Petitioner provided the following reason for his            
          extension request:  "As the preparer, I am behind due to audits             
          and tax court cases.  The taxpayer should not be penalized                  

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