Estate of Harvey Feinsmith, Deceased, Betty Feinsmith, Executrix - Page 11




                                       - 11 -                                         
          attributable to its taxable year ended January 31, 1984.  His 1/3           
          share was actually $16,392.90.  The parties agree that $16,392.90           
          is a constructive dividend to Mr. Feinsmith arising out of                  
          deductions not allowable on Randy Hall’s 1983 corporate income              
          tax return.  Mr. Feinsmith attached to his amended 1984 return an           
          affidavit that stated in relevant part:                                     
                    HARVEY FEINSMITH, being duly sworn, deposes and                   
               says:                                                                  
                    1.  I am the President and a shareholder of Randy                 
               Hall, Inc.  Randy Hall, Inc. is filing amended federal                 
               income tax returns (Form 1120) for the fiscal years                    
               ending January 31, 1981, January 31, 1983, and January                 
               31, 1984.  I am filing amended personal tax returns                    
               (Form 1040) for calendar years 1983 and 1984.  An                      
               original of this affidavit is being attached to each of                
               the above-described amended returns to explain the                     
               purpose of the amendments and the nature of the                        
               adjustments to income.                                                 
                    2.  During the period for which amended returns                   
               are being filed, Randy Hall, Inc. claimed false, non-                  
               existent business deductions in the amount of                          
               $337,300.28 for purported purchases which were not, in                 
               fact, made.  * * *                                                     
                    3.  The false deductions claimed by Randy Hall,                   
               Inc. were in the following amounts for each of the                     
               years for which amended returns are being filed:                       
                        Amount of False                                              
                    Fiscal Year Ending          Deduction                             
                         1981                  $193,922.15                            
                         1983                    94,199,43                            
                         1984                    49,178.70                            
                         Total:                $337,300.28                            
                    4.  During the years 1983 and 1984, and because of                
               the false deductions referred to above, I received a                   
               total of $47,792.71 in income which I did not report on                
               my tax returns for those two years.  I did not receive                 
               any income as a result of Randy Hall, Inc.’s false                     





Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011