-2-
Background
Petitioner, an accountant, is the sole shareholder of an S
corporation, John J. Petito C.P.A., P.C. (Petito corporation).
On December 29, 1999, respondent issued a notice of deficiency to
petitioner determining a deficiency in, an addition to, and an
accuracy-related penalty for fraud with respect to his income tax
liability for 1992. The deficiency is attributable to
respondent’s determination that petitioner failed to report
income that he earned from Petito corporation.
Petitioner filed a timely petition contesting the notice of
deficiency described above. After respondent filed an answer to
the petition, petitioner filed a motion to dismiss the case on a
variety of grounds, including allegations that the notice of
deficiency is frivolous and respondent’s agents conducted the
audit in a negligent manner. We denied petitioner’s motion to
dismiss.
Petitioner subsequently filed a motion for reconsideration
alleging that the notice of deficiency is invalid on the ground
that, prior to issuing a deficiency notice to petitioner,
respondent was obliged under secs. 6241-6245 (the unified S
corporation audit and litigation procedures) to issue a notice of
S corporation administrative adjustment (FSAA) to Petito
corporation. Petitioner contends that, although Petito
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011