Amy H. O'Brien - Page 3

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          reported tax liabilities, as well as delinquency additions to tax           
          and interest, for 1995, 1996, and 1997, and sent corresponding              
          notices of balance due, on August 23, 1999, September 6, 1999,              
          and August 9, 1999, respectively.  Similarly, on October 5, 1999,           
          petitioner filed a late 1998 income tax return showing a balance            
          due, which was not accompanied by any payment.  The 1998 tax                
          liability, additions to tax, and accrued interest were assessed             
          by respondent on November 15, 1999, and a notice of balance due             
          was sent.                                                                   
               For the 1999 taxable year, petitioner filed a timely return            
          showing an overpayment and claiming an earned income credit.                
          Respondent assessed the 1999 tax liability on February 28, 2000,            
          and transferred an overpayment credit to 1995.  Thereafter, on              
          August 7, 2000, respondent made additional assessments to                   
          petitioner’s 1999 account, and sent a notice of balance due, for            
          tax, additions to tax, and interest resulting from certain                  
          uncontested adjustments.                                                    
               After filing her 1995 through 1998 returns, petitioner on              
          October 26, 1999, created the “Amy H. O’Brien 1999 Irrevocable              
          Trust”.  The trust instrument designated a third party as trustee           
          and established a support trust for petitioner’s benefit.                   
          Specifically, the trust instrument’s “THIRD” term and condition             
          provided as follows with regard to distributions:                           
                    During my lifetime, the Trustee shall pay the net                 
               income from the trust property at least quarter-                       





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