Omar Urbina Pineda - Page 5

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          B.  Petitioner’s Income Tax Return for 2001                                 
               On May 20, 2002, petitioner timely filed a Form 1040 for the           
          taxable year 2001.  Petitioner attached, inter alia, to the                 
          return a Schedule C on which he reported net profit from his                
          business of $39,313.  On the return, petitioner reported AGI of             
          $37,486, taxable income of $24,986, self-employment tax of                  
          $5,555, and total tax of $8,398.  He also claimed a child tax               
          credit of $1,200.  He then reported an amount owed of $8,730,               
          which included an estimated tax penalty of $332.  Petitioner did            
          not remit payment with the return, and he did not make any                  
          estimated tax payments for 2001.                                            
               On the basis of petitioner’s return, respondent assessed the           
          tax shown on the return plus statutory interest, an addition to             
          tax for failure to timely pay under section 6651(a)(2), and an              
          addition to tax for failure to pay estimated tax under section              
          6654(a).                                                                    
               On December 13, 2002, petitioner filed an amended return for           
          the taxable year 2001.  On the amended return, petitioner                   
          reported AGI of $29,580, taxable income of $16,330, self-                   
          employment tax of $4,353, total tax of $5,302, and an estimated             
          tax penalty of $188.  He also claimed child tax credits of $1,500           
          and an EIC of $557.  He did not remit payment with the amended              
          return.                                                                     







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