- 2 - Respondent determined a deficiency of $6,079 and an accuracy-related penalty under section 6662(a) of $1,216 in petitioners’ 2001 Federal income tax. After concessions,2 the issue is whether petitioners are liable for a 10-percent additional tax under section 72(t) of $5,625. At the time the petition was filed, petitioners resided in Alpharetta, Georgia. Background Petitioner (Frederick W. Haas) was a chemical engineer and was employed by various chemical companies. In 1977, he was employed by British Petroleum (BP) and was employed by BP for a number of years. In 1992, he was employed by OHM Remediation (OHM), a leader in the cleaning up of high hazard chemical spills. OHM was bought by IT Corporation (IT) in 1998. During his years as a chemical engineer petitioner was exposed to various chemicals and became sensitive to various chemicals. In February 2000, petitioner’s doctor wrote that petitioner “should avoid direct exposure to known liver toxins. He may, however, participate in site surveys where the level of protection recommended is Level C or Level D.” On April 18, 2001, petitioner was told that his physical examination results were in the normal limits range, but he was “restricted from 2 Petitioners concede that they omitted from gross income $1,280 (State income tax refund), $26 (interest income from State Farm Life Insurance Co.), and $254 (interest income from the U.S. Treasury Dept.). Respondent concedes the sec. 6662(a) penalty.Page: Previous 1 2 3 4 5 6 7 Next
Last modified: May 25, 2011