Donald Victor Teschner - Page 15

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               The Commissioner’s determination imposing the section                  
          6662(a) accuracy-related penalty is presumed correct, and the               
          taxpayer bears the burden of proving that he is not liable for              
          the penalty.  Rule 142(a); Tweeddale v. Commissioner, 92 T.C.               
          501, 505 (1989).  No penalty, however, shall be imposed under               
          section 6662(a) with respect to any portion of an underpayment if           
          it is shown that there was reasonable cause and the taxpayer                
          acted in good faith with respect to that portion of the                     
          underpayment.  Sec. 6664(c).                                                
               The disallowance of petitioner’s Schedule A deductions stems           
          from his negligent handling of his tax affairs and his disregard            
          of rules or regulations.  For most items, petitioner failed to              
          maintain adequate records to sustain the deduction amounts in               
          excess of what respondent allowed.  Petitioner also disregarded             
          the rules or regulations that require the capitalization of                 
          assets that have a useful life extending beyond the taxable year.           
          While it is true that petitioner was on the road for much of 1991           
          and that his tax returns were prepared by tax professionals, he,            
          nonetheless, bears the ultimate responsibility for the accuracy             
          of his returns.  Magill v. Commissioner, 70 T.C. 465, 479-480               
          (1978), affd. 651 F.2d 1233 (6th Cir. 1981).  Petitioner was                
          aware of every deduction claimed on his tax returns.                        

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