- 24 - with the summary judgment motion Dr. Trowbridge’s (invalid) 1995 Form 1040, authenticated by affidavit of respondent’s counsel.22 Respondent also produced evidence that Dr. Trowbridge did not make any timely payments (actual or deemed, see supra note 17) in respect of his 1996 or 1997 income taxes that could be applied against his required annual payments. Given the foregoing evidence regarding invalid returns, the general applicability of the estimated tax provisions to Dr. Trowbridge’s respective 1996 and 1997 taxable years depends on whether Dr. Trowbridge’s actual (rather than reported) tax for those years is greater than zero. See sec. 6654(d)(1)(B). Similarly, the availability of the $500 de minimis exception with respect to either such year is determined by reference to Dr. Trowbridge’s actual (rather than reported) tax for each such year (less any allowable wage withholding credit). See sec. 6654(e)(1). As relevant to the application of section 6654(d)(1)(B), our disposition herein of the default motion establishes that Dr. Trowbridge’s tax for each of 1996 and 1997 is indeed greater than zero. As relevant to the application of section 6654(e)(1), such disposition establishes that 22 As referenced in our findings of fact, Dr. Trowbridge’s 1995 Form 1040 includes a disclaimer statement that is substantially identical to the disclaimers attached to his initial 1996 and 1997 Forms 1040. On that basis, we conclude that Dr. Trowbridge’s 1995 Form 1040 is not a valid return. See Williams v. Commissioner, 114 T.C. 136, 143 (2000).Page: Previous 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Next
Last modified: May 25, 2011