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Richard Andrews and L. Scott-Andrews, pro se.
Jordan S. Musen, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
NIMS, Judge: Respondent determined a deficiency, an addition
to tax, and a penalty for 1995 with respect to petitioners'
Federal income taxes as follows:
Addition to tax Penalty
Year Deficiency Sec. 6651(a)(1) Sec. 6662(a)
1995 $14,075 $2,781 $2,225
Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the years in issue. All
Rule references are to the Tax Court Rules of Practice and
Procedure. All dollar amounts are rounded to the nearest dollar.
Petitioners have conceded liability for the deficiency and
addition to tax under section 6651(a)(1) as determined by
respondent. Moreover, respondent has conceded that petitioners
are entitled to deductions for interest and State income taxes
paid. After these concessions, the sole issue for decision is
whether petitioners are liable for the accuracy-related penalty
under section 6662(a).
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