AMC Trust, J.O. Haney, Jr., J.O. Haney, III and Patricia A. Haney Trustees, et al. - Page 2

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                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               COHEN, Judge:  Respondent determined deficiencies and                  
          additions to tax as follows:                                                
          AMC Trust, J.O. Haney, Jr., J.O. Haney, III and Patricia A. Haney           
          Trustees (docket No. 22243-03):                                             
          Additions to Tax/Penalties, I.R.C.                                          
          Year       Deficiency       Sec. 6651(a)(1)       Sec. 6662(a)              
          1999        $419,808           $20,990.40          $83,962.00               
          2000         390,477            97,619.00           78,095.00               
          2001         455,935           113,984.00           91,187.00               
          Jopah Trust, J.O. Haney, Jr., J.O. Haney, III, Cynthia L. Haney             
          and Patricia A. Haney, Trustees (docket No. 22244-03):                      
          Additions to Tax/Penalties, I.R.C.                                          
          Year       Deficiency       Sec. 6651(a)(1)       Sec. 6662(a)              
          1997        $10,917               –-                $2,183.00               
          1998         21,920               –-                 4,384.00               
          1999         21,899               –-                 4,380.00               
          2000          8,608               –-                 1,722.00               
          2001          8,386             $2,096.50            1,677.00               
          Oliver and Company, John Oliver Haney, Jr. and Patricia Ann                 
          Haney, Trustees (docket No. 22245-03):                                      
          Additions to Tax/Penalties, I.R.C.                                          
          Year       Deficiency       Sec. 6651(a)(1)       Sec. 6662(a)              
          1996        $266,090              –-               $53,218.00               
          1997         220,430              –-                44,086.00               
          1998         287,916              –-                57,583.00               
          1999         419,728              –-                83,946.00               
          2000         390,455           $97,614.00              –-                   
          2001         461,616           115,404.00              –-                   











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