- 3 - On March 10, 1995,3 petitioners filed a petition (bankruptcy petition) in the U.S. Bankruptcy Court for the Northern District of Georgia, thereby commencing a bankruptcy proceeding under chapter 7 of title 11 of the United States Code. On March 20, 1996, petitioners amended their bankruptcy petition to include their Federal tax liabilities for 1991. On March 21, 1996, respondent issued a statutory notice of deficiency to petitioners with respect to 1991, determining a deficiency of $31,560, an addition to tax under section 6651(a)(1) of $8,004, and a penalty under section 6662(a) of $6,312. On June 12, 1996, the bankruptcy court entered a “DISCHARGE OF DEBTOR(S) WITH ORDER APPROVING TRUSTEE’S REPORT OF NO DISTRIBUTION, CLOSING ESTATE AND DISCHARGING TRUSTEE” with respect to petitioners (discharge order), granting petitioners a discharge pursuant to 11 U.S.C. sec. 727 (2000). The return assessment was abated shortly after issuance of the discharge order. On June 19, 1996, petitioners filed a petition with this Court with respect to the notice of deficiency for 1991. 3The parties have stipulated that the bankruptcy petition was filed on Mar. 10, 1995, although the bankruptcy court’s discharge order indicates that the petition was filed on Oct. 10 of that year. As discussed infra note 5, since the result in this case would be the same under either filing date, we need not resolve this discrepancy.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011