Stephen M. and Rebecca A. Kerns - Page 1

                                 T.C. Memo. 2004-63                                   

                               UNITED STATES TAX COURT                                

                   STEPHEN M. AND REBECCA A. KERNS, Petitioners v.                    
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 12728-02.            Filed March 11, 2004.                  

               Charles Wist and Joan Kehlhof, for petitioners.                        
               John D. Faucher, for respondent.                                       

                                 MEMORANDUM OPINION                                   

               COLVIN, Judge:  Respondent determined that petitioners are             
          liable for deficiencies in Federal income tax of $3,357 for 1998            
          and $3,637 for 1999, and accuracy-related penalties under section           
          6662(a) of $671 for 1998 and $727 for 1999.                                 
               After concessions, the sole issue for decision is whether a            
          $7,800 payment by petitioner Stephen M. Kerns’s wholly owned                

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