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carryovers plus NOL carrybacks, petitioner, as the claimant of an
NOL, must prove his right thereto. See United States v. Olympic
Radio & Television, Inc., 349 U.S. 232, 235 (1955).4
We have considered all the parties’ arguments and, to the
extent not discussed above, find those arguments to be without
merit or irrelevant. To reflect the foregoing,5
Decision will be entered
under Rule 155.
4 Nor has petitioner proven that he reported on his 1988
Federal income tax return the income that he realized from the
false invoice scheme. Accordingly, we reject without further
comment petitioner’s argument that the mitigation provisions of
secs. 1311 through 1314 and the doctrine of equitable recoupment
operate favorably to him in this case.
5 The sec. 6653(b) additions to tax apply to the entire
underpayment. We are convinced clearly that the entire
underpayment in this case, which stemmed from the false invoice
scheme and the other scheme discussed supra in note 2, was
attributable to fraud.
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