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Issue 1. Petitioner’s Liability for the Assessed
Deficiencies
Petitioner has stated that he wishes to contest the
underlying liabilities for his tax years at issue. Petitioner
argues that respondent’s determination of the amounts of the
assessed income tax liabilities is incorrect because petitioner
would have little or no capital gains tax liability if
respondent’s SFRs had used the actual cost bases, instead of
zero-cost bases, to determine his income from the sale of
securities, and if the SFRs had accounted for a capital loss
carryover from 1987.
Petitioner is liable for the assessed deficiencies because
the conditions have not been satisfied that would entitle him to
contest the deficiencies in this proceeding.
Petitioner was entitled at the hearing with the Appeals
officer to challenge the existence or amount of the underlying
tax liabilities for the periods in issue only if he did not
receive a statutory notice of deficiency or did not otherwise
have an opportunity to dispute the liabilities. See sec.
6330(c)(2)(B).
Petitioner forfeited his opportunity to contest the
underlying deficiencies in a proceeding in this Court under
section 6330(d) because of his deliberate refusal of delivery of
the statutory notices. See supra pp. 18-19.
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