Charles R. Godwin et al. - Page 23

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          to file.  See Watts v. Commissioner, T.C. Memo. 1999-416;                   
          Kemmerer v. Commissioner, T.C. Memo. 1993-394; Bear v.                      
          Commissioner, T.C. Memo. 1992-690, affd. without published                  
          opinion 19 F.3d 26 (9th Cir. 1994).  The natural disasters did              
          not preclude petitioner from having time to work in his law                 
          practice 12 hours per day, 6 days per week throughout 1997 and              
          1998, to engage in real estate transactions in 1998, and to                 
          travel to visit the timberland several times in 1998.  Moreover,            
          petitioners did not establish any causal link between the natural           
          disasters and the late filing, such as damage or loss of their              
          business records that precluded them from filing on time.                   
          Respondent conceded petitioners an extension of time to file                
          until November 16, 1998.  Petitioners had more than enough time             
          to complete and file their 1997 return no later than November 16,           
               Second, replacement of petitioners’ accountant is not                  
          “reasonable cause” to excuse their late filing.  See United                 
          States v. Boyle, supra at 252.                                              
               Third, petitioners argue their 1997 return was filed timely            
          under section 165(i), which provides that any loss attributable             
          to a Presidentially declared natural disaster may, at the                   
          election of the taxpayer, be taken into account for the taxable             
          year immediately preceding the taxable year in which the disaster           
          occurred.  If such an election is made, the casualty resulting in           

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