- 9 - $42,873.24 was paid by petitioner in restitution to the IRS as part of the resolution of his criminal case. A review of the pre-sentence investigation report shows that the amounts for which petitioner was required to pay restitution are the very same adjustments at issue in this case, including, for instance, the commissions relating to petitioner’s sale of real estate, payments by Taxman for petitioner’s furniture, and the sale of petitioner’s crop hail insurance business. Accordingly, we reject respondent’s contention that the $42,873.24 represents an adjustment not at issue. Finally, respondent argues that petitioner’s offer fails because it would not fully resolve petitioner’s liability, and only that liability, for the type or types of taxes and the taxable year or years in the proceeding required by section 301.7430-7(c)(3), Proced. & Admin. Regs. In the offer letter, petitioner’s counsel writes of the $12,000 amount that “the additional liability would be allocated in the following amounts: $5,000 to the 1991 tax year; $1,000 for the 1992 tax year; $1,000 for the 1993 tax year, and $5,000 to the 1994 tax year.” The problem with this attempted allocation is that the 1994 tax year was not at issue. However, looking at this allocation in its context, we find that the inclusion of the 1994 tax year was nothing more than a typographical error of petitioner’s counsel. The preceding sentence clearly indicates that the $12,000 was toPage: Previous 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011