- 7 -                                         
          U.S. 241, 252 (1985); De Aycardi v. Commissioner, T.C. Memo.                
          1997-308 (“Reasonable reliance on an agent may constitute a                 
          possible defense to penalties but not to the underlying tax.”).             
               To reflect the foregoing,                                              
                                                  Decision will be entered            
                                             for respondent.                          
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