- 9 -
Petitioner pleaded guilty to an attempt to evade or defeat
tax pursuant to section 7201 for 1994. Accordingly, petitioner
is estopped from challenging respondent’s determination that
there is an underpayment for the 1994 tax year and that he filed
a false and fraudulent Federal income tax return with the intent
to evade income tax for the 1994 tax year.
Respondent has thus carried his burden of proving that there
was an underpayment of tax, some part of which was due to fraud,
and, therefore, the entire underpayment is attributable to fraud,
“except with respect to any portion of the underpayment which the
taxpayer establishes (by a preponderance of the evidence) is not
attributable to fraud.” Sec. 6663(b). Since petitioner has not
introduced cogent evidence to support his claims that the
underpayment is less than that determined by respondent or that
the entire underpayment is not attributable to fraud, we sustain
respondent’s determination that petitioner is liable for
penalties for fraud under section 6663 for the 1994 tax year.
II. The 1992 and 1993 Tax Years
A. Underpayment
Respondent claims that the distributions received by
petitioner from CNC are unreported ordinary income for which
there was an underpayment of tax. Petitioner claims that the
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011