- 10 -
into one of petitioner’s Merrill Lynch accounts (Merrill Lynch
account). The deposits were checks for the following amounts:
Date Amount Year Total
11/08/88 $25,000 1988 $25,000
04/17/89 8,333
12,500
10,000
4,000 1989 34,833
01/16/90 42,831
06/29/90 21,587
09/17/90 21,972
3,750
5,000
12/06/90 7,945
825 1990 103,910
04/10/91 8,677 1991 8,667
Of the aforementioned checks, seven were distributions from the
client trust account for attorney’s fees earned by the law firm.
They were the checks for $8,333 and $12,500 in 1989; $42,831,
$21,587, $21,972, and $7,945 in 1990; and $8,677 in 1991 (the
seven checks). The seven checks were payable to the law firm.
Petitioner endorsed the seven checks.
The $25,000 November 8, 1988, deposit was a taxable referral
fee from attorney Bill Shernoff.
The $10,000 April 17, 1989, deposit was a taxable payment of
legal fees by a “Dr. Cole”.
The $4,000 April 17, 1989, deposit was part of a State
income tax refund. This amount had initially been deposited into
the general operating account and classified as a nonincome item
on the law firm’s April 1989 list of deposits. Accordingly, it
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011