Cheryl McKnight - Page 18

                                       - 18 -                                         
               Rev. Proc. 2003-61, sec. 4.03(2), elaborates further on                
          various factors to consider in reviewing requests for section               
          6015(f) equitable relief.  No one factor will control, and all              
          relevant factors are to be considered and weighed.  The factors             
          set forth in Rev. Proc. 2003-61, supra, are not intended to be              
          exhaustive.  Rev. Proc. 2003-61, supra.                                     
               We review respondent’s denial of section 6015(f) equitable             
          relief for an abuse of discretion.  Hopkins v. Commissioner,                
          supra at 87; Cheshire v. Commissioner, 115 T.C. 183, 198 (2000),            
          affd. 282 F.3d 326 (5th Cir. 2002).                                         

          Section 6015(b) Relief                                                      
               As explained, section 6015(b) relief is available only for             
          tax deficiencies, not underpayments.  Respondent correctly                  
          concluded that petitioner fails to qualify for relief under                 
          section 6015(b) as to her joint liability for the $6,452 tax                
               Petitioner had knowledge of the interest on the home                   
          mortgages and of the various business activities and income of              
          MGI.  Cf. sec. 1.6015-3(c)(4), Example (1), Income Tax Regs.                
          Although John made all the financial decisions, petitioner                  
          tracked and paid the bills, including the mortgage payments.                
               Petitioner does not qualify for section 6015(b) relief for             
          any portion of the tax deficiency at issue herein.                          

Page:  Previous  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  Next

Last modified: May 25, 2011