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MEMORANDUM FINDINGS OF FACT AND OPINION
WELLS, Judge: Respondent determined deficiencies, additions
to tax, and penalties in petitioners' Federal income taxes as
follows:
Stephen D. Podd, docket Nos. 20225-93, 6212-94:
Penalties
Year Deficiency Sec. 6662(a)
1988 $463 -
1989 12,654 $2,530.80
1990 61,674 12,335.00
Victor I. Podd, docket Nos. 20226-93, 6211-94:
Penalties
Year Deficiency Sec. 6662(a)
1988 $951 -
1989 12,065 $2,413
1990 135,094 27,019
Victor T. Podd, docket Nos. 20227-93, 6210-94:
Additions to Tax Penalties
Year Deficiency Sec. 6653(a)(1) Sec. 6661 Sec. 6662(a)
1988 $48,402 $2,402 $12,101 -
1989 475,634 - - $95,127
1990 68,637 - - 13,727
Julia Podd, docket No. 6213-94:
Penalties
Year Deficiency Sec. 6662(a)
1990 $52,277 $10,455
Powertex, Inc., docket Nos. 20228-93, 6214-94:
Tax
Year Additions to Tax Under Section Penalties
Ended Deficiency 6653(a)(1)(A) 6653(a)(1)(B) 6653(a) 6661 6662(a)
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