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MEMORANDUM FINDINGS OF FACT AND OPINION
WHERRY, Judge: This case arises from a petition for
judicial review filed in response to Notices of Determination
Concerning Collection Action(s) Under Section 6320 and/or 6330.1
The issues for decision are: (1) Whether respondent may proceed
with collection action as so determined, and (2) whether the
Court, sua sponte, should impose a penalty under section 6673.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulations of the parties, with accompanying exhibits, are
incorporated herein by this reference.
Petitioners on or about April 15, 1998, filed a joint Form
1040, U.S. Individual Income Tax Return, for the 1997 taxable
year. They reported adjusted gross income of $57,383.79, total
tax of $5,126, withholding of $5,457.23, and a refund amount of
$331.23. They similarly on or about April 15, 1999, filed a
joint return for 1998 reporting substantial adjusted gross
income, total tax of $5,899, withholding of $8,161.58, and a
refund amount of $2,262.58. The Internal Revenue Service (IRS)
assessed the reported tax for 1997 and 1998 on June 1, 1998, and
May 31, 1999, respectively.
1 Unless otherwise indicated, section references are to the
Internal Revenue Code of 1986, as amended, and Rule references
are to the Tax Court Rules of Practice and Procedure.
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