T.C. Memo. 2001-226
UNITED STATES TAX COURT
EFRAIN J. AND JOSEFINA XUNCAX, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 3380-00. Filed August 15, 2001.
Respondent determined a deficiency for
petitioners’ 1996 taxable year based primarily on the
disallowance of amounts claimed for cost of goods sold
and business expenses on petitioners’ Schedule C,
Profit or Loss from Business.
Held: Petitioners are liable for a deficiency as
redetermined herein.
Held, further, petitioners are liable for the sec.
6662(a), I.R.C., accuracy-related penalty.
Efrain J. and Josefina Xuncax, pro sese.
Jonathan H. Sloat, for respondent.
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