Edith Hunter Hornberger, et al. - Page 12




                                       - 12 -                                         
          required returns. Mr. Clay, who had remained mentally alert,                
          assured them that he was progressing in the usual manner in                 
          preparing the 1992  fiduciary income tax return and the allocation          
          statement for petitioner.  During March and April of 1993,                  
          petitioner inquired about her tax return with Mr. Clay and her              
          mother; she was told that the tax returns and grantor trust                 
          allocation statements were being prepared.                                  
               Mr. Clay informed the cotrustees that sufficient estimated tax         
          payments had been previously made.  He specifically informed Mr.            
          Dowdy that if he was unable to complete and file the 1992 returns,          
          he would prepare and file appropriate extension forms.                      
               Mr. Clay’s health continued to decline through the spring of           
          1993.  On July 1, 1993, he was moved to a convalescent home, where          
          he died 5 days later.                                                       
               As a result of Mr. Clay’s deteriorating health, he neither             
          completed the 1992 information return for the trust nor filed the           
          necessary 1992 returns for petitioner, the estate, or the trust             
          within the prescribed period.  (No extensions were requested.)              
          Following Mr. Clay’s death, the surviving cotrustees retained a             
          certified public accountant to prepare and file 1992 tax returns            
          for the estate, the trust, and petitioner.  On February 2, 1994,            
          the returns (a Form 1040 for petitioner and Forms 1041 for the              
          estate and the trust) were filed for all three taxpayers’ 1992 tax          
          year.                                                                       






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011