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By notice of deficiency dated December 29, 1997, respondent
determined fraud penalties, pursuant to section 6663, of $44,930
and $16,722 relating to 1992 and 1993, respectively. On March
27, 1998, petitioner, while residing in Hixson, Tennessee, filed
a petition with this Court relating to 1992 and 1993.
On October 4, 1999, respondent sent petitioner a second
notice of deficiency in which he determined fraud penalties,
pursuant to section 6663, of $28,407, $31,721, and $41,424
relating to 1989, 1990, and 1991, respectively. In response,
petitioner, on January 3, 2000, while residing in Hixson,
Tennessee, filed a petition with this Court relating to 1991.
Respondent, on July 17, 2000, assessed the fraud penalties
relating to 1989 and 1990.
On April 19, 2000, the Court granted petitioner’s motion to
consolidate the two cases.
OPINION
Respondent contends, pursuant to section 6663, that
petitioner, on his 1991, 1992, and 1993 returns, underreported
income with the intent to evade tax. Petitioner contends that he
did not intend to evade tax and believed he was entitled to defer
a portion of the underreported income.
Petitioner’s conviction, pursuant to section 7206(1), is a
badge of fraud and estops him from contesting that he
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