- 2 - Revenue Code in effect for the year in issue, and all Rule references are to the Tax Court Rules of Practice and Procedure. Respondent determined a deficiency in petitioner’s Federal income tax of $12,161 and an accuracy-related penalty under section 6662(a) of $784 for 1996.1 After concessions by petitioner,2 the issues for decision are: (1) Whether petitioner failed to report income of $39,444; (2) whether petitioner is entitled to the claimed dependency exemption deduction; and (3) whether petitioner is liable for an accuracy-related penalty under section 6662. Petitioner resided in Hyattsville, Maryland, at the time he filed the petition. Some of the facts have been stipulated and are so found. For convenience we combine our findings of fact and conclusions. 1 Petitioner timely filed his 1996 tax return on or about Apr. 15, 1997. The notice of deficiency at issue was mailed on Aug. 15, 2001. We note that the general 3-year period of limitations for the 1996 tax year expired on Apr. 15, 2000, but petitioner has not pleaded that the period of limitations has expired. Sec. 6501(a). As we conclude below, petitioner has omitted from gross income an amount properly includable therein which is in excess of 25 percent of the amount stated in the return. Thus, if the statute of limitations were in issue, we would conclude that the 6-year period of limitations under sec. 6501(e)(1)(A) is applicable. 2 Petitioner concedes that he is not entitled to the claimed head-of-household filing status but is entitled to single filing status, and that he is not entitled to the claimed earned income credit.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011