Robert B. Kemp, Jr. - Page 4

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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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