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Code in effect for the year in issue, and all Rule references are
to the Tax Court Rules of Practice and Procedure.
FINDINGS OF FACT
Some of the facts have been stipulated, and the stipulated
facts are incorporated in our findings by this reference.
Petitioner resided in Shawnee Mission, Kansas, at the time that
he filed the petition in this case. Petitioner is a lawyer
admitted to practice in Kansas. Petitioner filed his income tax
return for 1998 using the cash receipts and disbursements method
of accounting.
Prior to April 1996, petitioner had two credit card accounts
with MBNA, a Mastercard account and a Visa account. On April 8,
1996, the balance due on petitioner’s Visa account was
transferred to his Mastercard account. On or about June 9, 1996,
petitioner sent to MBNA a check for $1,000, a copy of his May
1996 statement with a handwritten notation, and a separate
handwritten note. In the handwritten notation on the statement
and in the handwritten note, petitioner stated: “My current
balance is $29,837.61.” Petitioner requested verification or
correction of the balance.
On August 12, 1996, petitioner obtained a cash advance of
$1,200 against his Mastercard account. The sum advanced and a
$10 cash advance fee were posted to petitioner’s account on
August 14, 1996.
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