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to a $250,000 theft loss carried back or carried forward to
applicable tax years. The only documentation submitted to
respondent as proof of the theft was an “Affidavit of Judgement
by Confession” (affidavit of confession) filed with the State of
New York civil court and signed by Mr. Gallant.
On November 23, 2004, in a Notice of Determination
Concerning Collection Action(s) under Section 6320 and/or 6330
(notice of determination), respondent determined that petitioner
failed to establish a theft loss pursuant to section 165(c)(3) in
2000. Respondent also concluded that the notice of Federal tax
lien was appropriate and that petitioner owed unpaid taxes,
penalties, and interest totaling $77,530 relating to 1996 through
1999 and 2001.
On December 27, 2004, petitioner, while residing in Plant
City, Florida, filed his petition with the Court seeking a review
of the notice of determination.
OPINION
Where the validity of the underlying tax liability is at
issue, the Court will review the matter de novo. Davis v.
Commissioner, 115 T.C. 35, 39 (2000). Petitioner did not receive
a notice of deficiency and has not previously been given the
1(...continued)
all Rule references are to the Tax Court Rules of Practice and
Procedure.
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Last modified: May 25, 2011