- 6 - 2002 return was received by respondent on May 1, 2003. United States citizens must file income tax returns on or before the 15th day of the fourth month following the end of their taxable years. Sec. 1.6072-1(a), Income Tax Regs. That date, for a calendar year taxpayer is April 15th. Petitioner’s returns, therefore, for the years 2001 and 2002 were required to be filed on or before, respectively, April 15, 2002, and April 15, 2003. They were not received by respondent until April 30, 2002, and May 1, 2002, respectively. Respondent, therefore, is sustained on this issue.2 Respondent determined that petitioner was liable for the addition to tax under section 6654(a) for failure to pay estimated tax. This addition to tax is applicable where there is an underpayment of estimated tax, subject to exceptions or waivers that are not applicable here. Sec. 6654(e). In general, estimated income tax payments are used to provide for payment of income taxes not collected through withholding. Section 6654(c) provides for four quarterly installments. Income taxes withheld from salaries or wages apply toward the amount of each required quarterly installment; however, to the extent withholdings do not satisfy the required quarterly installments, the taxpayer is 2The Court notes that, even though the tax returns of petitioner contained primarily zeroes, respondent treated the returns as returns and did not impose a failure to file addition to tax against petitioner. Sec. 7203.Page: Previous 1 2 3 4 5 6 7 8 9 Next
Last modified: May 25, 2011