- 12 - to computer purchases. Petitioner offered no evidence to put in doubt the correctness of respondent’s determinations. Finally, respondent established that petitioner received additional unreported income that was not deposited to petitioner’s or PAC’s bank accounts. A number of PAC’s customers, in response to Agent Bricker’s mailing, provided evidence of additional computer purchases from PAC, the income from which was not recognized on PAC’s or petitioner’s tax returns and was not traceable to petitioner’s or PAC’s bank accounts. Many of these were cash sales. Petitioner received additional unreported income of $37,733.38 for 1988, $20,319.27 for 1989, and $16,417.87 in 1990 on account of these unrecorded sales. In sum, Agent Oertel established that petitioner received and failed to report income of $220,198.54 for the 3 years in issue, consisting of $96,531.828 in 1988, $56,410.969 in 1989, 8This consists of $48,956.84 identified using the deposit method from responses to Agent Bricker’s mailing, $9,841.60 identified using the deposit method from indicia on the checks, and $37,733.38 identified from the specific evidence provided by PAC customers in response to Agent Bricker’s mailing. 9This consists of $30,586.19 identified using the deposit method from responses to Agent Bricker’s mailing, $5,505.50 identified using the deposit method from indicia on the checks, and $20,319.27 identified from the specific evidence provided by PAC customers in response to Agent Bricker’s mailing.Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Next
Last modified: May 25, 2011