- 4 - notified that petitioner, after being told of the corporate audit, had taken the records relating to the audit. The IRS requested the records from petitioner. The records were not given to the IRS or Weiner. On June 23, 1997, the IRS issued a summons to petitioner for the records of The Fourth Dreamer. On July 3, 1997, petitioner filed a motion to quash the summons in the District Court. On February 26, 1998, the District Court dismissed petitioner's motion to quash. On March 19, 1998, a second summons filed by respondent requested the books and records of The Fourth Dreamer for the fiscal years ending May 31, 1995 and 1996. Petitioner filed a new motion to quash the summons on March 31, 1998. The District Court dismissed the motion with prejudice on July 1, 1998. In July 1998, respondent began to audit petitioner’s 1995 income tax return. On August 12, 1998, respondent requested that petitioner appear on August 31, 1998, to give testimony and produce the records of The Fourth Dreamer requested in the summons. Petitioner declined because he was involved in an appeal arising out of the District Court litigation. Respondent offered petitioner a conference with respect to his audit on or before November 17, 1998. That date was set because the period of limitations was running. A letter from the IRS suggested that someone representing petitioner meet with the IRS by November 17, 1998, or, in the alternative, that petitionerPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011