Joseph T. Hayes and Marilyn Hayes - Page 2

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                                  FINDINGS OF FACT                                    
               The parties have stipulated most of the relevant facts,                
          which we incorporate herein by this reference.  When petitioners            
          filed their petition, they resided in Flushing, New York.                   
          1994 Tax Year                                                               
               On their joint Form 1040, U.S. Individual Income Tax Return,           
          for 1994 (Form 1040), petitioners reported a $9,223 amount due              
          but made no remittance with their return.  Respondent assessed              
          the amount reported on the return.  On February 26, 1996,                   
          respondent levied petitioner husband’s retirement account and               
          applied the proceeds to satisfy petitioners’ then-outstanding               
          1994 balance and to generate a $1,224.24 refund.2                           
               After an examination, respondent issued a notice of                    
          deficiency, determining a $3,010 deficiency in petitioners’ 1994            
          Federal income tax liability.  Petitioners did not petition the             
          Tax Court to redetermine the deficiency.  On June 2, 1997,                  
          respondent assessed the $3,010 additional tax.                              
          1996 Tax Year                                                               
               On their joint Form 1040 for 1996, petitioners reported a              
          $1,588 amount due but made no remittance with their return.                 
          Respondent assessed the amount reported on the return.                      


               2 The refund was apparently attributable to certain payments           
          that had been made on petitioners’ 1994 account after the return            
          was filed but before the levy proceeds were applied.                        





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