Phyllis J. Merendino - Page 20

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                    B.  Negative Factors                                              
                         i.  Attributable to the Requesting Spouse                    
               The majority of the liability is attributable to Dr.                   
          Merendino.  Petitioner seeks relief only from the unpaid tax                
          liability for that portion of the liability attributable to Dr.             
          Merendino.  Therefore, this factor is neutral.                              
                         ii.  Knowledge or Reason to Know                             
               We have concluded above that petitioner should have known              
          the unpaid tax liability would not be paid.  Thus, this factor              
          weighs against granting petitioner equitable relief.  Rev. Proc.            
          2000-15, sec. 4.03(2)(b), 2000-1 C.B. 447, 448-449.                         
                         iii.  Significant Benefit                                    
               Respondent concedes that petitioner did not significantly              
          benefit from the tax savings.                                               
                         iv.  Lack of Economic Hardship                               
               As we noted and have found in our analysis previously                  
          discussed, petitioner has failed to carry her burden of proving             
          that she will suffer economic hardship if relief is denied.                 
          Consequently, this factor weighs against granting petitioner                
          equitable relief.                                                           
                         v.  Noncompliance With Federal Income Tax Laws in            
                         Subsequent Years                                             
               Respondent did not determine that this factor is present in            
          the instant case, and thus this is a neutral factor.  See Ewing             
          v. Commissioner, 122 T.C. at 46-47.                                         

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