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$2,414 under section 6651(f)2 for fraudulent failure to file a
timely income tax return for 1995 and alternatively under section
6651(a)(1) for failure to file timely. After concessions,3 the
issue to be decided is whether petitioner is liable for the
addition to tax under section 6651(f) for fraudulent failure to
file timely an income tax return for 1995. We hold that
petitioner is liable. We therefore do not need to decide
alternatively whether petitioner is liable for the addition to
tax under section 6651(a)(1).
FINDINGS OF FACT
Some of the facts have been stipulated and are incorporated
by this reference. Petitioner and his late wife4 (the Masons)
resided in Noble, Oklahoma, when they filed the petition.
The Masons owned interests in various business enterprises
during 1995, the year at issue. They held a 50-percent interest
in an S corporation named Eagle Enterprise, Inc. (Eagle), which
2All section references are to the Internal Revenue Code in
effect for the year in issue, and all Rule references are to the
Tax Court Rules of Practice and Procedure, unless otherwise
indicated.
3The deficiency in the statutory notice, $3,219, was based
on four adjustments: (1) A capital gain adjustment of $1,386,
which respondent conceded; (2) a Schedule A investment expense
adjustment of $10,995, which petitioner conceded; (3) a
computational Schedule A miscellaneous expense adjustment; and
(4) a computational alternative minimum tax adjustment.
4Petitioner’s wife, Ellen M. Mason, died on Feb. 12, 2002.
The Court dismissed the Est. of Ellen M. Mason from this action
for lack of jurisdiction on Dec. 8, 2003.
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Last modified: May 25, 2011