- 16 -
is not negligent and has not disregarded rules or regulations,
even if the advice is incorrect and results in a deficiency. See
Freytag v. Commissioner, 89 T.C. 849, 888 (1987), affd. 904 F.2d
1011 (5th Cir. 1990), affd. 501 U.S. 868 (1991).
Petitioners’ 1992 return was prepared by an accountant.
Petitioner testified that he relied on his return preparer to
fill out petitioners’ joint return properly. However,
petitioners did not call their accountant to testify on their
behalf, nor did petitioners demonstrate that they provided the
accountant with all relevant facts and information with respect
to the Sky Shuttle activity. Therefore, we hold that petitioners
are liable for the accuracy-related penalty pursuant to section
6662(a).
To reflect the foregoing,
Decision will be entered
under Rule 155.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Last modified: May 25, 2011