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Petitioners’ Fraud Penalty Accuracy-Related Penalty
Year Deficiency Under Sec. 6663 Under Sec. 6662(a)
1993 $16,209 1$10,613.25 2$411.60
1994 14,192 17,363.50 2874.80
1Respondent determined to impose the fraud penalty under
sec. 6663 for the taxable years 1993 and 1994 on the portions of
the underpayments attributable to the $44,000 and $30,621 of
compensation that respondent determined Mr. Wilson received
during those respective years.
2Respondent determined to impose the accuracy-related pen-
alty under sec. 6662(a) for the taxable years 1993 and 1994 on
the portions of the underpayments attributable to the $7,315 and
$15,030 of compensation that respondent determined Ms. Wilson
received during those respective years.
Discussion
The Court may grant summary judgment where there is no
genuine issue of material fact and a decision may be rendered as
a matter of law. Rule 121(b); Sundstrand Corp. v. Commissioner,
98 T.C. 518, 520 (1992), affd. 17 F.3d 965 (7th Cir. 1994). The
party moving for summary judgment bears the burden of proving
that there is no genuine issue of material fact. The factual
materials and the inferences therefrom are to be read in the
light most favorable to the party opposing summary judgment.
Naftel v. Commissioner, 85 T.C. 527, 529 (1985); Jacklin v.
Commissioner, 79 T.C. 340, 344 (1982). However, the party
opposing summary judgment cannot rest upon mere allegations or
denials set forth in that party’s pleadings, but must set forth
specific facts showing that there is a genuine issue for trial.
Rule 121(d); Marshall v. Commissioner, 85 T.C. 267, 271 (1985).
In Mr. Wilson’s response as supplemented and Mr. Wilson’s
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Last modified: May 25, 2011