- 3 - 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 filePage: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011