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He was sentenced to 3 months’ imprisonment to be served
concurrently with his sentence for tax evasion, 2 years’
supervised release, and a $50 special assessment for the Crime
Victims’ Fund.
On December 12, 2000, respondent issued a notice of
deficiency to Mr. Del Bosque and Ms. Ferguson for 1987 and 1988
and another notice of deficiency to Mr. Del Bosque for 1989. In
those notices of deficiency, respondent determined that Mr. Del
Bosque received, but failed to report, gross receipts of $67,163
in 1987, $16,557 in 1988, and $32,779 in 1989, computed as
follows:
1986 1987 1988 1989
Net worth computation:
Assets $143,230 $208,392 $235,941 $292,189
Liabilities 71,995 125,564 139,430 142,708
Net worth 71,235 82,828 96,511 149,481
Less prior year’s net worth 71,235 82,828 96,511
Increase in net worth 11,593 13,683 52,970
Adjustments:
Additions:
Nondeductible expenses 75,826 86,751 77,356
Itemized deductions expenditures 12,840 22,007 23,254
Subtractions:
Nonincome items (2,546) (67,090) (63,912)
Adjusted gross income 97,713 55,351 89,668
Itemized deductions (12,118) (15,627) (16,545)
Personal exemptions (3,800) (3,900) (2,000)
Corrected taxable income 81,795 35,824 71,123
Taxable income reported (14,632) (19,267) (38,344)
Gross receipts 67,163 16,557 32,779
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