- 39 -
1992 when the Service was attempting to collect Mr. Kayian, Sr.'s
1987-1989 unpaid tax liability as well as Mr. Kayian, Sr. and Ms.
Livingston's joint 1990 and 1991 tax liability.6 Mr. Kayian, Sr.
thus concealed assets from the Service.7 See Fla. Stat. Ann.
sec. 726.105(2)(g). (3) Although Mr. Kayian, Sr.'s liability for
tax due for each of the years 1987 through 1989 arose on the date
on which his return for each such year was required to be filed,
Mr. Kayian, Sr.'s tax liability for each of those years was not
quantified until after the Service summoned him in early February
1992 with respect to his taxable years 1987 through 1989 and he
prepared and submitted to the Service returns for those years on
March 2, 1992, March 30, 1992, and April 13, 1992, respectively.
Those returns showed taxes due, and respondent assessed those
taxes, plus applicable additions to tax and interest, on May 4,
1992, May 18, 1992, and June 1, 1992, respectively. In addition,
on June 5, 1992, and July 7, 1992, respectively, Mr. Kayian, Sr.
and Ms. Livingston submitted to the Service joint returns for
1990 and 1991, which showed taxes due. When Mr. Kayian, Sr. gave
the transferred properties to Mr. Kayian, Jr., he was well aware
6On the record before us, we reject petitioner's contention
that Mr. Kayian, Sr. did not disclose the Aruba bonds to the
Service because he thought those bonds were worthless.
7It is also noteworthy that in answers to interrogatories
and in a financial affidavit, both of which he prepared with
respect to the Beatrice Kayian lawsuit, Mr. Kayian, Sr. did not
disclose that he owned the Aruba bonds.
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