- 5 -
F. Petitioner’s Concessions and Contentions
Petitioner concedes that he mistakenly failed to complete
Part III of Schedule 2, Child and Dependent Care Expenses for
Form 1040A Filers, and that, as a consequence, the amount of the
childcare credit shown on Schedule 2 was overstated. Petitioner
also concedes (and respondent agrees) that the amount of the
childcare credit to which he is entitled is $251. Finally,
petitioner concedes that instead of claiming a $694 overpayment
on his return, he should have reported a balance due of $15, as
shown by the following:
Childcare credit claimed $960
Less: allowable childcare credit -251
Excess childcare credit claimed 709
Less: overpayment claimed per
return as filed -694
Balance due 15
Petitioner contends that respondent should not have credited
the $694 overpayment claimed on his 1997 return to his tax
liability for 1988 because, he contends, respondent’s acceptance
of the offer in compromise conclusively resolved his tax
liability for 1988. Thus, petitioner contends, the $694
overpayment remained available to offset all but $15 of the
excess childcare credit ($709) to which he is admittedly not
entitled.
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Last modified: May 25, 2011