-2-
fraud penalties under sec. 6663(a), I.R.C. R also
determined as to the payments that Ps were transferees
of DDL’s assets, and, in that capacity, owed the unpaid
1990 and 1991 Federal corporate income taxes and fraud
penalties of DDL. Ps argue that R’s determinations are
erroneous because, Ps state, P-H’s medical practice was
not incorporated during 1990 and 1991. Ps note that a
corporation has never been formally registered with
California to do business as DDL.
1. Held: In 1990 and 1991, P-H operated his
medical practice in California as a corporation known
as DDL.
2. Held, further, Ps’ 1990 and 1991 gross income
includes the amounts diverted from DDL, and Ps are
liable for the individual income taxes and related
fraud penalties determined by R.
3. Held, further, Ps, as transferees of DDL’s
assets, are liable for DDL’s 1990 and 1991 Federal
corporate income tax liabilities (inclusive of the
fraud penalties).
4. Held, further, the period of limitations under
sec. 6501, I.R.C., has not run as to Ps’ 1990 or 1991
taxable year.
Wayne Hagendorf and Richard J. Radcliffe, for petitioners.
Igor S. Drabkin and David R. Jojola, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
LARO, Judge: These cases concern (1) the 1990 and 1991
Federal individual income taxes of David D. Le, a.k.a. David Dung
Le, a.k.a. David Le, a.k.a. Dung V. Le, a.k.a. Dung Le
(petitioner), and Kim Huong Le, a.k.a. Kim H. Le, a.k.a. Kim Le,
a.k.a. Nguy Le (Ms. Le) (collectively with petitioner, the Les,
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