William D. Zack - Page 9




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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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