- 6 -
credible in his explanation of what * * * [another taxpayer
before the Court] called a loophole.
THE COURT: But did you question what sort of a loophole
would that be, because you're acknowledging that the amounts
that you really paid for –– gave to charity were laughable
amounts compared to what --
MR. THORNTON: Absolutely.
THE COURT: —-he put on the return for you?
MR. THORNTON: Again, he was simply very, very credible
in the way he would explain and the way he would assure, and
this is a perfectly allowable, perfectly acceptable amount
for our level of income.
THE COURT: Did you ever go to some other professional
to verify that --
MR. THORNTON: No sir.
* * * * * * *
MR. THORNTON: No sir. Now, and that's –- the term if
it's too good to be true, it is. Compared to what?
Certainly it was much better compared to my own tax
preparation, but this was the first professional I've been
to, and --
THE COURT: Anybody can put numbers down.
MR. THORNTON: I understand that now, sir. Yes, sir.
When petitioners later received notices from respondent that
their returns for 1999 and 2000 would be audited, Mr. Beltran
advised petitioners to ignore such notices and not meet with
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Last modified: May 25, 2011