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MEMORANDUM OPINION
WHERRY, Judge: This case was filed in response to a Notice
of Determination Concerning Collection Action(s) Under Section
6320 and/or 6330.1 The issue for decision is whether respondent
may proceed with collection as so determined.
Background
This case was submitted fully stipulated pursuant to Rule
122. The stipulations of the parties, with accompanying
exhibits, are incorporated herein by this reference.
Petitioner requested and obtained extensions of time until
October 15, 1986, to file his 1985 Form 1040, U.S. Individual
Income Tax Return. On that date, petitioner filed his 1985
return reporting total tax of $187,911; total payments, through
withholding, of $66,747; and an amount owed of $127,151.2 No
payment was submitted with the return. At the time, petitioner
was involved in a pending bankruptcy, which he had filed in May
or June of 1986.
1 Unless otherwise indicated, section references are to the
Internal Revenue Code of 1986, as amended, and Rule references
are to the Tax Court Rules of Practice and Procedure.
2 The parties have stipulated that the amount owed should
have been $121,164, calculated by crediting $66,747 against the
reported liability of $187,911. The difference resulted from
petitioner’s inclusion in the amount owed shown on his return of
a $5,987 “penalty” computed by petitioner on the Form 2210,
Underpayment of Estimated Tax by Individuals, accompanying his
1985 return.
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