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Petitioner was found guilty of tax evasion for the taxable
years 1990, 1991, 1992, and 1993. In particular, petitioner was
charged with criminally underreporting income in the amounts of
$44,000, $48,000, $44,000, and $52,989 for the tax years 1990,
1991, 1992, and 1993, respectively. Petitioner admits to
receiving the amounts in issue; however, he argues that the
amounts received were nontaxable loans. The factual question of
whether this money constituted income was necessarily decided in
reaching the judgment in the criminal case. Petitioner was found
guilty of tax evasion for failure to report the amounts here in
controversy. Accordingly, petitioner is estopped from arguing
that no part of the amounts received was taxable income and from
denying that he filed false and fraudulent Federal income tax
returns with the intent to evade income tax for 1990, 1991, 1992,
and 1993.
Furthermore, because petitioner's fraudulent intent, for
purposes of the penalties under section 6663, has been
established for 1990, 1991, and 1992, it follows that the
assessment and collection of the deficiency in income tax and the
penalties are not barred by the expiration of the statutory
limitation period. Sec. 6501(c)(1); see Taylor v. Commissioner,
T.C. Memo. 1997-82.
To reflect the foregoing,
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011