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Ahmed for purposes of determining Ahmed’s income and expenses and
Ahmed’s individual Federal income tax liabilities.
The schedule below compares, for 1995 and 1996, the gross
income, the taxable income, and the tax liabilities of Ahmed and
of K & M as reported on the filed tax returns with the gross
income, the taxable income, and the tax liabilities of Ahmed and
of K & M as stipulated herein:8
1995 1996
Reported Stipulated Reported Stipulated
Ahmed’s
Gross Income $ 49,000 $ 113,390 $ 40,500 $ 95,698
Taxable Income 22,872 87,262 15,127 70,325
Tax Liability 3,431 19,367 2,269 14,478
K & M’s
Gross Income 1,705,359 1,768,971 1,401,793 1,492,929
Taxable Income 7,361 112,875 60,148 202,839
Tax Liability 1,104 27,271 10,037 62,357
The schedule below compares, for 1997 and 1998, the
aggregated gross income, taxable income, and tax liabilities of
Ahmed and of the nominee entities as reported on the filed or
submitted tax returns of Ahmed and of the nominee entities with
8 On this schedule for 1995 and 1996, and on the next
schedule for 1997 and 1998, see infra p. 32, we have estimated
the Federal income tax liability of Ahmed and of K & M based on
the stipulated income and expense amounts. The amounts indicated
on these two schedules for the estimated tax liabilities are not
binding on the parties, who will have the opportunity to submit
tax calculations pursuant to Rule 155. The “reported” amounts
include the amounts reported on the tax returns filed with
respondent and also amounts reported on the tax returns that were
submitted either before or during trial but which were neither
signed nor filed with respondent.
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