Joseph G. Dostal - Page 21

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             petitioner had not demonstrated undue hardship as defined                
             by section 301.6343-1(b)(4)(i), Proced. & Admin. Regs.                   
             At that conference, the Appeals officer suggested that                   
             petitioner consider “an installment agreement and/or                     
             liquidation of your retirement accounts in order to                      
             satisfy the tax liability.”  The Appeals officer also sent               
             petitioner and his attorney a letter setting forth certain               
             conditions, such as full payment for petitioner’s 2003                   
             tax liability, to continue consideration of collection                   
             alternatives.  Our review of the record fails to show any                
             basis for the assertion that the Appeals officer “summarily              
             rejected” petitioner’s offer-in-compromise.                              
                  Finally, we do not agree with petitioner’s assertion                
             that collection of the full tax liability for taxable years              
             2000 and 2001 would cause petitioner and his family                      
             economic hardship within the meaning of section 301.6343-1,              
             Proced. & Admin. Regs.  The financial information                        
             petitioner submitted with his offer-in-compromise                        
             demonstrates that petitioner had a robust earning capacity               
             through his stock brokerage business.  The Form 433-A                    
             submitted with petitioner’s offer-in-compromise suggests                 
             that his income exceeded living expenses by $9,428 per                   
             month before income taxes.  Certainly, monthly income in                 

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Last modified: May 25, 2011