Oliver K. Robinson and Deborah L. Robinson, et al. - Page 20




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         regarding the correct period of limitations may hinder the                   
         resolution of factual and legal issues and create needless                   
         litigation over collateral matters.  H. Rept. 105-148, supra at              
         609-610, 1997-4 C.B. (Vol. 1) at 931-932; S. Rept. 105-34, supra             
         at 277-278, 1997-4 C.B. (Vol. 2) at 1357-1358.                               
              E.  Conclusion                                                          
              We hold that the Robinsons’ period for assessment controls              
         the question of whether respondent is barred from making a                   
         determination that the Robinsons have constructive dividends.                
         Accordingly, respondent was not time barred from determining                 
         constructive dividends for the Robinsons’ 1992 tax year.                     
         Petitioners have offered no other evidence or defense with                   
         respect to the disputed constructive dividends, and therefore                
         respondent is sustained on that adjustment.                                  
         II.  Self-Employment Income                                                  
              On their 1992 and 1993 returns, the Robinsons reported                  
         $31,015 in each year as “other income” from discharge of                     
         indebtedness.  Respondent determined that the $31,015 reported in            
         1992 and in 1993 was income from self employment, resulting in               
         the determination of self-employment taxes of $5,928 and $4,383              
         for 1992 and 1993, respectively.  On brief, the Robinsons contend            
         that the amounts represent compensation or wages which are not               










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