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correct amount of his gross receipts should be $34,578.6
In petitioner’s brief, he contends that the issue of the
possible overstatement of income first arose during the audit
conducted by the Internal Revenue Service (IRS) revenue agent.
Petitioner claims that during the audit the revenue agent may
have opined that petitioner overstated his gross receipts. In
petitioner’s brief he further stated: “each of these issues,
i.e., travel mileage, car and truck expenses, depreciation,
deductions allowed after Petitioner filed a Schedule A 1040 Form
with the Auditor at the Auditor’s request, configuration of
various exemptions, and so forth, were resolved with the IRS
Auditor.” Petitioner contends that “these issues are not before
the Court.” Despite petitioner’s belief that “these issues are
not before the Court”, no settlement was reached administratively
with the Commissioner, a notice of deficiency was issued, and
petitioner timely filed a petition for redetermination of his
1996 Federal income taxes.
Gross income includes all income from whatever source
derived. Sec. 61(a). Section 61(a)(2) specifically includes
income derived from business. It is required under Federal law
that taxpayers maintain adequate and accurate tax records. Sec.
6001; see also Jones v. Commissioner, 903 F.2d 1301, 1303 (10th
6 This amount is rounded to the nearest dollar.
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Last modified: May 25, 2011