- 6 -
to run concurrently with a 70-month sentence on the drug-related
count.
In the plea agreement, petitioner husband agreed that “the
amount of additional income attributable to * * * [petitioner
husband] in 1990 is $63,610 and the additional amount of tax owed
to the United States is $20,659”.
The statement of facts in the criminal proceeding contained
a summary of the net worth analysis (hereinafter referred to as
the criminal net worth computation), as follows:
Particulars 12/31/89 12/31/90 12/31/91
Total assets 1$7,445 2$82,791 $86,643
Less: Total liabilities 2,600 6,100 6,100
Net worth 4,845 76,691 80,543
Less: Prior years -0- 4,845 76,691
net worth
Increase in net worth 4,845 71,846 3,852
Plus: Expenditures 316,511 418,591 35,337
Less: Deductions 56,000 627,412 19,858
Corrected taxable 15,356 63,025 19,331
income
Reported taxable income -0- (585) 1,091
Understatement 15,356 63,610 18,240
1 This amount comprises a $608 checking account balance and the 1984 BMW.
2 This amount comprises a $423 checking account, the 1984 BMW and the 1988
Alfa Romeo Milano, and “investments” of $65,000 in a music shop, Steady Beat
Records.
3 This amount comprises personal living expenses of $13,477, including
expenditures made jointly by petitioner husband and petitioner wife, as well as an
item characterized as “non-deductible personal loss 1983 Maxima” in the amount of
$3,034.
4 This amount comprises of personal living expenses, income taxes paid, and
Social Security taxes paid.
5 This amount represents personal exemptions.
6 This amount comprises $12,356 of wages for petitioner wife, $6,856 for
petitioners’ settlement of their injury claims from the automobile accident, and
$8,200 for personal exemptions.
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Last modified: May 25, 2011