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Type of
Payor 2000 2001 payment
Midland Natl. Life $129,829 $221,795 commissions
Ins. Co.
Lifeusa Ins. Co. 17,812 commissions
Financial Brokerage, 8,646 3,008 commissions
Inc.
Fidelity & Guaranty 1,050 commissions
Life Ins.
American Equity Inv. 6,017 commissions
Life Ins
Charles Schwab & Co. 541 96 interest
Commercial Bank of
Volusia County 682 481 interest
$157,510 $232,447
Petitioner filed no Federal income tax returns and made no
estimated tax payments for 2000 and 2001. No Federal income tax
was withheld from his income for 2000 and 2001.
B. Respondent’s Determination
In the notice of deficiency, respondent determined that
petitioner had received but failed to report self-employment
income from commissions in the amounts of $156,287 in 2000 and
$231,870 in 2001 and interest income in the amounts of $1,223 in
2000 and $577 in 2001. Respondent determined that petitioner’s
filing status was single and that he was entitled to claim the
standard deduction and one exemption. Respondent determined that
petitioner was liable for additions to tax for failure to file
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Last modified: May 25, 2011