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In 1990, Mr. Daimler and Ms. Mondragon maintained a personal
bank account No. 854-646952 at NCNB of Texas in Wichita Falls,
Texas (NCNB personal bank account). During 1990, they deposited
$13,160.27 as “cash” or “misc.” into the NCNB personal bank
account. Mr. Daimler and Ms. Mondragon did not include the
amount of those deposits in their joint return for 1990 and have
failed to show that such deposits were derived from a nontaxable
source.
During the taxable years ended January 31, 1990, January 31,
1991, January 31, 1992, and January 31, 1993, Dieter Electronics
maintained a bank account No. 858-214645-8 at NCNB of Texas in
Wichita Falls, Texas (NCNB corporate bank account). The bank
statements and canceled checks from the NCNB corporate bank
account were used to prepare the corporate returns of Dieter
Electronics for those taxable years.
Dieter Electronics overstated its “purchases” expense by
$49,924, $42,796, $36,646, and $40 for the taxable years ended
January 31, 1990, January 31, 1991, January 31, 1992, and January
31, 1993, respectively. Dieter Electronics overstated its cost
of goods sold by $8,361 for the taxable year ended January 31,
1993.
During the years 1989, 1990, 1991, and 1992, the German
account earned interest in the amounts of $5,553, $3,936, $2,960,
and $4,150, respectively. Mr. Daimler and Ms. Mondragon failed
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