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is not reviewable by any other court, and this opinion should not
be cited as authority.
Respondent determined a deficiency of $8,579 in petitioner’s
Federal income tax for the year 2001, an addition to tax under
section 6651(a)(1) in the amount of $410, and an accuracy-related
penalty under section 6662(a) in the amount of $1,716.
The issues for decision are: (1) Whether petitioner
realized interest income from the redemption during 2001 of
series E U.S. savings bonds inherited from his mother; (2)
whether petitioner is liable for the addition to tax under
section 6651(a)(1); and (3) whether petitioner is liable for the
accuracy-related penalty under section 6662(a).
Some of the facts were stipulated, and those facts, with the
annexed exhibits, are so found and are incorporated herein by
reference. At the time the petition was filed, petitioner’s
legal residence was Lake Oswego, Oregon.
Petitioner is an accountant and was employed as finance
manager for the County Housing Authority at Lake Oswego, Oregon.
His work generally consisted of maintaining the books and records
of his employer as well as handling financial transactions such
as grants, loans, and the like between his employer and the U.S.
Department of Housing and Urban Development.
The facts in this case are not in dispute. Petitioner’s
mother, Esther G. Cronk, died on June 3, 1999. She left a last
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