James B. Clark - Page 2

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               The issues for decision1 are:                                          
               1.   Whether petitioner had gross income and deductions in             
          the amounts respondent determined for 1998, 2000, and 2001.  We             
          hold he did.                                                                
               2.   Whether petitioner is liable for the addition to tax              
          for failure to timely file under section 6651(a)(1)2 for 1998,              
          and for the accuracy-related penalty under section 6662(a) for              
          1998, 2000, and 2001.  We hold that he is.                                  
                                  FINDINGS OF FACT                                    
               Some of the facts have been stipulated and are so found.               












               1  We ordered the parties to file posttrial briefs.                    
          Respondent did so; petitioner did not.  Under these                         
          circumstances, we may hold petitioner in default on all issues              
          for which he bears the burden of proof.  See Stringer v.                    
          Commissioner, 84 T.C. 693, 704-708 (1985), affd. without                    
          published opinion 789 F.2d 917 (4th Cir. 1986); Furniss v.                  
          Commissioner, T.C. Memo. 2001-137; McGee v. Commissioner, T.C.              
          Memo. 2000-308.  However, we decide this case on the record as it           
          stands.  We base our understanding of petitioner’s position on              
          his petition and trial testimony.                                           
               2  Section references are to the Internal Revenue Code as              
          amended and in effect for the years in issue.                               





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