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Internal Revenue Code (Code) in effect for the years in issue,
and all Rule references are to the Tax Court Rules of Practice
and Procedure.
The issues for decision are whether: (1) The notice of
deficiency relating to petitioner’s 1993 return was timely; (2)
petitioner is liable for tax relating to undistributed trust
income; and (3) petitioner is liable for additions to tax for
failing to file his 1993 and 1994 returns in a timely manner.
FINDINGS OF FACT
Petitioner resided in Ashland, Virginia, at the time the
petition was filed. Petitioner filed his 1993 and 1994 returns
on September 23, 1994, and December 15, 1995, respectively. The
notice of deficiency was sent to petitioner on October 29, 1998.
Petitioner was a beneficiary of a trust which provided that
he receive “the entire net income of his respective share, in
convenient installments.” The trustee had the discretion to
distribute principal. No distributions were made from the trust
in 1993 or 1994. An order of the Virginia Beach Chancery Court
(State Court), dated February 17, 1994, required the trustee to
retain all trust income. Subsequently, the State Court
terminated the trust and distributed petitioner’s share to
satisfy his obligations.
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