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Prior to trial, the parties stipulated to reduced tax
deficiencies and additions to tax for 1988 and 1989. The
revised deficiencies and additions to tax for those years
are as follows:
Revised
Revised Additions to Tax
Year Deficiency Sec. 6651(a)(1)
1988 $79,268 $19,817
1989 77,687 19,422
With respect to 1990, the parties stipulated that there was
an overassessment of tax of $11,472 and an overassessment
of the addition to tax of $2,868.
Set out below is a summary to the adjustments made by
respondent in the notice of deficiency and the adjustments
agreed to by the parties:
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