- 19 -
his alleged forfeiture of rights. As noted above, the revised
Form 1040 was not processed as an amended return, and, therefore,
petitioner’s reporting of income tax on his revised Form 1040
does not constitute a reasonable basis for not reporting income
tax on his Form 1040. Based on the entirety of the record, we
conclude that the other requirements for relief from the
substantial understatement penalty have not been met.
Accordingly, we hold that petitioner is liable for the accuracy-
related penalty under section 6662(a).10
E. Conclusion
Reviewed and adopted as the report of the Small Tax Case
Division.
To reflect the foregoing,
Respondent’s motion to conform
the pleadings to the evidence
will be granted, and decision will
be entered under Rule 155.
10 Based on our disposition of the other disputed issues,
we note that the sec. 6662(a) penalty may be greater than that
originally determined in the notice of deficiency.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Last modified: May 25, 2011