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determined the following deficiencies, additions to tax, and
penalties with respect to petitioners’ Federal income taxes:
Paul F. and Barbara J. Basile
Addition to tax Accuracy-related
delinquency penalty
Year Deficiency Sec. 6651(a)(1) Sec. 6662(a)
1996 $255,805 $25,581 $51,161
1997 203,462 -- 40,692
Basile Health Center, DC, PC
Addition to tax Accuracy-related
delinquency penalty
Year Deficiency Sec. 6651(a)(1) Sec. 6662(a)
1997 $154,126 $38,532 $30,825
Respondent conceded in his motion for judgment by default,
however, that the deficiencies, additions to tax, and penalties
with respect to petitioners’ Federal income taxes are less than
those originally determined and are as follows:
Paul F. and Barbara J. Basile
Addition to tax Accuracy-related
delinquency penalty
Year Deficiency Sec. 6651(a)(1) Sec. 6662(a)
1996 $110,901 $11,090 $22,180
1997 82,583 -- 16,517
1(...continued)
the Internal Revenue Code in effect for the years in issue, and
all Rule references are to the Tax Court Rules of Practice and
Procedure. Monetary amounts are rounded to the nearest dollar.
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Last modified: May 25, 2011