William Reese - Page 9

                                         -9-                                          
          intentionally failed to credit his withholding, which is                    
          manifestly untrue, as plainly demonstrated in the notice of                 
          determination and Respondent’s Supplement.                                  
               With regard to the Levy Notice, the Order directed                     
          respondent to “explain why amounts listed in the ‘Paying Late               
          Penalty’ column * * * are not reflected in the transcripts of               
          account attached to respondent’s motion.”  The so-called “Paying            
          Late Penalty” and Interest are shown on the Notice under the                
          category “Statutory Additions” and not as assessed items.                   
               Section 6651(a)(3) provides:                                           
               SEC. 6651(a).  Addition to the Tax.                                    
                         *    *    *    *    *    *    *                              
                    (3) to pay any amount in respect of any tax                       
               required to be shown on a return specified in paragraph                
               (1) which is not so shown (including an assessment made                
               pursuant to section 6213(b)) within 21 calendar days                   
               from the date of notice and demand therefor (10                        
               business days if the amount for which such notice and                  
               demand is made equals or exceeds $100,000), unless it                  
               is shown that such failure is due to reasonable cause                  
               and not due to willful neglect, there shall be added to                
               the amount of tax stated in such notice and demand 0.5                 
               percent of the amount of such tax if the failure is for                
               not more than 1 month, with an additional 0.5 percent                  
               for each additional month or fraction thereof during                   
               which such failure continues, not exceeding 25 percent                 
               in the aggregate.                                                      
               Thus, section 6651(a)(3) imposes an addition to tax for                
          failure to pay any amount, in respect of any tax required to be             
          shown on a return which is not so shown, within 21 calendar days            
          from the date of notice and demand of payment.  The addition to             






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  Next

Last modified: May 25, 2011