Larry J. and Patricia A. Sumrall - Page 3

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          tax for failure to file a return under section 6651(a)(1) for               
          1987.  On brief, respondent concedes the claimed addition to tax            
          for failure to pay under section 6651(a)(2) for 1987.  At trial,            
          petitioners conceded the claimed additions to tax for 1988 for              
          both delinquency under section 6651 and negligence under section            
          6653.  At trial, the parties stipulated that there are no                   
          additions to tax under section 6654.  On brief, with respect to             
          the deficiencies in tax for 1987 and 1988, petitioners propose              
          that we find that, but for certain claimed credits and refunds              
          still in issue, there are deficiencies in tax of $9,232 and                 
          $40,329 for those years, respectively.  Respondent agrees with              
          those proposed findings of fact, and we shall treat such                    
          agreements as constituting a stipulation of settlement with                 
          respect to those deficiencies, which we accept.  The parties                
          agree that petitioners have raised as issues in this case                   
          overpayments on account of (1) withholding and refundable credits           
          for 1989, 1990, and 1991, and (2) net operating loss (NOL)                  
          carrybacks from 1991 and 1992.  At trial, petitioners conceded              
          that there was no timely claim for any overpayment on account of            
          withholding and refundable credits for 1991.  On brief,                     
          respondent concedes that petitioners submitted timely refund                
          claims for overpayments for 1989 and 1990 (except with respect to           
          NOL carrybacks), and states that the necessary computations to              
          satisfy those claims can be made under Rule 155.  We accept the             

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