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Background
On November 14, 1995, respondent issued a notice of
deficiency to petitioner determining deficiencies in, and
additions to, his Federal income taxes for 1987 and 1988. The
deficiencies were attributable to respondent's determination that
petitioner, an attorney, had embezzled funds from the Estate of
Zelda Willey Putman and had failed to report such amounts as
income.
On November 21, 1995, petitioner commenced a case in this
Court by filing a petition for redetermination, which was
assigned docket No. 24572-95. Petitioner contested respondent’s
determinations in the notice of deficiency on the ground that the
funds that he received from the Putman estate were loans. The
case was tried to the Court in the spring of 1997. Following the
filing of briefs by the parties, the Court issued a memorandum
opinion (Howard v. Commissioner, T.C. Memo. 1997-473) on October
16, 1997, essentially sustaining respondent's determinations.2
Thereafter, on January 21, 1998, the Court entered decision
against petitioner. Petitioner did not file any posttrial
motions, see Rules 161 and 162, nor did he file a notice of
appeal. Accordingly, the Court’s decision became final on April
21, 1998. See secs. 7481(a)(1), 7483.
2 Respondent conceded that petitioner’s embezzlement income
for 1988 was slightly less than the amount determined in the
notice of deficiency.
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