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APPENDIX J
1989
Bank deposits to personal accounts:
Bank Account Number Deposit
Energy People Federal
Credit Union 11195-004 ---
Barnett Bank 1672684397 $27,523
Chemical Bank 00506140-3 250,835
Security Savings
& Loan 23-8351019-1 1142,400
Security Savings
& Loan 23-1006720 ---
First Fidelity 0010186161 32,867
Chemical Bank 623-503-349 76,051
Collective Federal 36-6-750909 512
Total bank deposits 530,188
Cash expenditures:
a. Notes receivable (Ras) 64,000
b. Purchase 212 W. Broad Street (3/31/89) 74,285
c. Radtam check - Points paid to refinance
personal mortgage 10,657
d. Corporate funds2 used to purchase 212
West Broad Street 93,000
e. Corporate funds used to pay mortgage on
211 East 17th 64,000
3305,942
Rental income checks paid by Radtam, Inc., to
taxpayer and not deposited into taxpayer’s
bank accounts used in above analysis. 41,000
Rental income checks paid to taxpayer by
managing agent(s) of taxpayer’s Marco Island,
Fl., rental properties and not deposited into
taxpayers’ bank accounts used in above analysis.
Agent: Horizon by Sea 3,250
Total gross income 880,380
Less nontaxable deposits/items per statutory notice:
a. Paybacks to corp. from personal account (55,925)
b. Social Security benefits (nontaxable) (4,710)
c. Transfer between accounts (173,000)
Additional repayments and transfers:
a. Refund of advance to Radtam (5,425)
b. Personal rental income deposited to
corporate accounts (44,250)
c. Additional paybacks to corporation (27,000)
Total reductions to bank deposits (310,310)
Receipts per return:
a. Wages/salary per return (4,631)
b. Interest income per return (3,008)
c. Dividend income per return (1,123)
d. Pension/annuities (4,263)
e. Social Security (tax) (4,710)
f. Rents (gross) (232,000)
Equals: Gross receipts per return (249,735)
Difference between gross salary and
actual salary deposited 326
Plus personal items paid by corporation 860
Total unreported income from bank deposits: 4321,521
1Because of a typographical error, respondent incorrectly reflected gross
deposits of “$142,000”. The correct figure is “$142,400”.
2Corporate funds were drawn from two accounts: $72,000 from the Security
Savings account and $21,000 from Radtam’s savings account at Chemical Bank (account
No. 600-871255).
3Because of a computational error, respondent incorrectly reflected total cash
expenditures of “$306,482”. The correct figure is “$305,942”.
4The net effect of respondent’s typographical and computational errors is a
$140 reduction in petitioners’ unreported income.
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