- 2 -
4. Held, further, in determining the amount
involved, the fair market interest rate is 10.5
percent.
5. Held, further, H and W, pursuant to sec.
6651(a)(1), I.R.C., are liable for additions to tax for
failing to file excise tax returns.
Michael E. Dumke, for petitioners.
Mark L. Hulse and Roberta M. Amos, for respondent.
OPINION
FOLEY, Judge: By notices dated June 25, 1997, respondent
determined deficiencies in, and an addition to, petitioners'
Federal excise taxes as follows:
Gideon L. Medina
Excise Taxes Addition to Tax
Year Sec. 4975(a) Sec. 4975(b) Sec. 6651(a)(1)
1991 $2,685 -- $671
1992 5,652 -- 1,413
1993 8,930 -- 2,233
1994 12,553 -- 3,138
1995 16,556 -- 4,139
1996 20,979 -- --
19971 -- $468,469 --
1 For the taxable period ending June 30, 1997.
Corazon P. Medina
Excise Taxes Addition to Tax
Year Sec. 4975(a) Sec. 4975(b) Sec. 6651(a)(1)
1992 $2,967 -- $742
1993 6,245 -- 1,561
1994 9,868 -- 2,467
1995 13,871 -- 3,468
1996 18,294 -- --
19971 -- $414,769 --
1 For the taxable period ending June 30, 1997.
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