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Conclusion
Based on our findings of facts and conclusions of law, we
hold that Mr. Sasser received unreported income in 1996 in the
amount of $2,612, determined as follows:
Deposits to personal account $29,096
Plus: Deposits to business account +1,518
Total deposits 30,614
Less: Mrs. Sasser’s net wages -17,267
Balance 13,347
Less: Reported gross receipts -5,635
Balance 7,712
Less: Dec.‘96 credit card advance - 1,500
Balance 6,212
Less: Deposits attributable to
Mrs. Sasser’s brother -3,600
Unreported gross receipts 2,612
Reviewed and adopted as the report of the Small Tax Case
Division.
In order to give effect to the foregoing,
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011