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Approximate base salary: $70,174.14
Deferred compensation plan: 224.97
Incentive Stock Option (ISO): 33,183.75
Interest: 13.38
Wages for sports officiating: 54.00
Federal income tax refund: 227.00
Total 103,877.24
See exhibits B, C, D, and E.[2]
* * * * * * *
C. The petitioner’s failure to file
federal income tax returns in a timely manner
is not due to or resultant from willful
neglect.
D. The petitioner’s failure to file
federal income tax returns in a timely manner
is due to and resultant from reasonable
cause.
In his Motion for Summary Judgment respondent, for the
purpose of this motion, concedes the capital gain adjustment in
the statutory notice of deficiency in the amount of $137,835
(Adjustment I.A.) and the sections 6651(a)(1) and 6654(a)
additions to tax.
2 Exhibit B consists of four copies of Forms W-2, Wage
and Tax Statement, issued by MCI Communications Corp. to
petitioner for 1993. These Forms W-2 show that petitioner
received wages, tips and other income totaling $103,582.86. This
amount included deferred compensation plan income of $224.97 and
incentive stock options of $33,183.75. Exhibit C is a Form 1099-
INT issued by Community Credit Union to petitioner for 1993
showing that he received interest income of $13.38. Exhibit D is
a Texas Sports Officials, Inc. Officiating Pay Summary showing
that petitioner was paid $54 in 1993. Exhibit E is a Kentucky
Form 1099-G showing that petitioner received a State tax refund
of $227 in 1993.
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Last modified: May 25, 2011