- 41 -
Explanation: Economic hardship is not
indicated. TP’s are still
married and continue to
maintain their home together.
They continue to file joint
returns through the most
recently filed tax year and
the joint TXI is $227,674.00
No marital abuse
No poor mental or physical health
No legal obligation established
RS had knowledge or reason to know Against
Explanation: RS failed to satisfy her duty
to review the return or to
inquire. The return showed an
adjusted gross income of over
$300,000.00, a tax liability
of only $3198 and a refund of
$92,970. RS’ had reason to
know there was a substantial
loss taken.
No significant benefit gained For
Explanation: No significant benefit
evident.
Made a good faith effort to comply with For
the tax laws
Explanation: RS is compliant. TP’s have
continued to file joint tax
returns through the most
recently filed tax year.
Unique circumstances: TP’s state that in 1987 prior
to receiving notice of the
deficiency on this tax year
and as part of their estate
planning, the ownership of the
primary residence was
transferred from joint
ownership to the RS’s
individual ownership.
Not meeting Tier II factors - deny claim
Page: Previous 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 NextLast modified: May 25, 2011