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Form 4340 for the 1996 taxable year both reflect an income tax of
$10,838 and a withholding credit of $12,544, resulting in a
refund to petitioner of $1,706. The transcript of account for
the 1996 taxable year reflects a refund of $1,706, plus interest,
that was paid to petitioner on April 23, 2001.4
Petitioner’s uncorroborated and vague testimony regarding
his claimed credit for an estimated tax payment of $6,000 is not
credible. See Tokarski v. Commissioner, 87 T.C. 74, 77 (1986).
A review of petitioner’s most recent returns and records does not
support his testimony, and there is no indication that petitioner
is entitled to an overpayment or credit. We conclude that
petitioner has not made an overpayment and is not due a refund
for the 1997 taxable year.
The next issue for decision is whether petitioner is liable
for an addition to tax under section 6651(a)(1). Section
6651(a)(1) imposes an addition to tax on the failure to file
timely any return required to be filed, unless it is shown that
such failure is due to reasonable cause and not due to willful
neglect. Section 6011(a) provides that a taxpayer who is
required to make a return shall do so “according to the forms and
regulations prescribed by the Secretary. Every person required
4 When a taxpayer elects to have an overpayment refunded to
him, he may not change his election to have the overpayment
applied as a payment on account of his estimated income tax.
Sec. 301.6402-3(d), Proced. & Admin. Regs.
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Last modified: May 25, 2011