Harry R. Gross - Page 2




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          The Court agrees with and adopts the opinion of the Special Trial              
          Judge, which is set forth below.                                               
                          OPINION OF THE SPECIAL TRIAL JUDGE                             
               COUVILLION, Special Trial Judge:  Respondent issued a notice              
          of final determination denying petitioner's claim to abate                     
          interest for his 1988 taxable year.  Petitioner filed a timely                 
          petition for review of that determination with this Court.  The                
          sole issue for decision is whether petitioner is entitled to an                
          abatement of interest pursuant to section 6404(e).2                            
                                       Background                                        
               Some of the facts have been stipulated and are so found.                  
          The stipulation of facts and the attached exhibits are                         
          incorporated herein by this reference.  Petitioner's legal                     
          residence at the time the petition was filed was Tampa, Florida.               
               After receiving an extension of time to file, petitioner                  
          filed his 1988 Federal income tax return timely on August 15,                  
          1989.  On the return, petitioner reported adjusted gross income                
          of $184,222,3 income tax due of $50,742, self-employment tax due               



               2    Unless otherwise indicated, all section references are               
          to the Internal Revenue Code in effect for the year at issue.                  
               3    Petitioner reported a $241,690 loss and no tax due on                
          his 1987 Federal income tax return.  The $241,690 loss reported                
          on petitioner's 1987 return was applied as a net operating loss                
          carryforward in the calculation of petitioner's 1988 adjusted                  
          gross income figure.                                                           





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