- 3 - TATT Companies International d.b.a. Pedus Security Service reported to respondent that it paid petitioner wages in the amounts of $11,541 and $8,482 during 1987 and 1988, respectively. The Department of the Air Force reported to respondent that it paid petitioner a pension annuity in the amount of $8,165 during 1988. Morgan Shareholder Services Trust Company of AMR Corporation (Morgan) reported to respondent that on February 13, 1987, petitioner sold some securities. Morgan reported that petitioner received "stock&bond" income in the amount of $56 as a result of the sale. Petitioner did not file Federal income tax returns for his 1987 and 1988 taxable years. Petitioner filed three bankruptcy petitions in the United States Bankruptcy Court for the District of Arizona since filing his petition in this Court. In dismissing his third bankruptcy petition, the presiding judge concluded that petitioner is "a serial filer and that [his] action as a serial filer constitutes an abuse of the bankruptcy system." The first issue for decision is whether petitioner received and failed to report income during the taxable years in issue. Section 61(a) includes in gross income all income from whatever source derived including, but not limited to, compensation for services, gains from dealings in property, annuities, and pensions. Sec. 61(a)(1), (3), (9), (11).Page: Previous 1 2 3 4 5 6 7 8 9 Next
Last modified: May 25, 2011