- 13 -
years in issue, Agent Christenot checked the Ventura County,
California, court records, where petitioner lived, to identify
any real estate or other property owned by petitioner and found
nothing in those court records pertaining to petitioner.
The IRMF report is a report that is compiled by the IRS on
all payment of mortgage interest. It is compiled in Michigan
from Forms 1098, Mortgage Interest Statements, that are forwarded
to IRS from financial institutions throughout the country. The
Forms 1098 list all mortgage payments made throughout the country
and that information is aggregated in one main computer program
maintained by the IRS in the State of Michigan.
Agent Christenot was able to learn through the IRMF that
petitioner had made mortgage interest payments for the years 1989
through 1992 in the amounts of $11,896, $11,288, $6,466, and
$4,005, respectively. Respondent introduced into evidence at
trial documentation showing that petitioner and Charlotte
executed a deed of trust on May 12, 1975, in favor of Valley
Federal Savings and Loan Association in which they pledged their
home at 2600 Valley Meadow Court as security for a $65,000
promissory note.
Respondent then computed petitioner's taxable income on the
basis of the BLS for the years in issue. The BLS represents
estimates of petitioner's annual living expenses. The categories
of family consumption include food, housing, transportation,
clothing, personal care, medical care, and other consumables.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Next
Last modified: May 25, 2011