Alec Jeffrey Megibow - Page 1

                                 T.C. Memo. 2004-41                                   


                               UNITED STATES TAX COURT                                


                         ALEC JEFFREY MEGIBOW, Petitioner v.                          
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 8369-02.               Filed February 19, 2004.             

                    Respondent determined deficiencies for                            
               petitioner’s 1997, 1998, and 1999 taxable years based                  
               primarily on the disallowance of amounts claimed as                    
               business expense deductions.                                           
                    Held:  Because petitioner failed to substantiate                  
               claimed deductions, he is liable for income tax                        
               deficiencies for 1997, 1998, and 1999.                                 
                    Held, further, petitioner is liable for sec.                      
               6662(a), I.R.C., accuracy-related penalties with                       
               respect to the years in issue.                                         

               Anthony M. Bentley, for petitioner.                                    
               D. Sean McMahon, for respondent.                                       








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