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Bilzerian Investors, and Bilzerian Ventures from the purchase and
sale of Hammermill stock.
During 1986, Mr. Bilzerian also maintained interests in
South Bay Fashion Center and South Bay Fashion One, two
partnerships, and various other entities.
For the taxable year 1986, Mr. Bilzerian was involved in the
preparation of Federal income tax returns for some of the
entities in which he was involved. Additionally, a former
accountant from Price Waterhouse worked full time in Mr.
Bilzerian’s office handling some of the returns. Peat, Marwick,
Mitchell & Co., C.P.A.s (Peat Marwick), prepared partnership tax
returns for Bilzerian & Mack, Bilzerian Investors, and Bilzerian
Ventures. Another accountant and a tax attorney were involved in
preparing tax returns for other entities in which Mr. Bilzerian
was involved.
While Peat Marwick was not engaged by petitioner and Mr.
Bilzerian to prepare or do any work on their 1986 individual
income tax return, Peat Marwick did prepare a schedule, entitled
“Paul Bilzerian’s 1986 Tax Estimate”. This schedule was prepared
for the purpose of helping petitioner and Mr. Bilzerian make an
estimated tax payment for 1986. The schedule reported the
following gains from Mr. Bilzerian’s stock dealings in
Hammermill:
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Last modified: May 25, 2011