- 22 -
Based upon our examination of the entire record before us,
we find that petitioners have failed to carry their burden of
establishing that they are not liable for 2001 for the accuracy-
related penalty under section 6662(a) and (b)(1).17
We have considered all of the contentions and arguments of
the parties that are not discussed herein, and we find them to be
without merit, irrelevant, and/or moot.18
To reflect the foregoing and the concessions of the parties,
Decision will be entered for
respondent with respect to the
deficiency for 1999 and the
deficiency and the accuracy-related
penalty under section 6662(a) for
2001 and for petitioners with
respect to the accuracy-related
penalty under section 6662(a) for
1999.
17In light of our finding that petitioners are liable for
2001 for the accuracy-related penalty because of negligence under
sec. 6662(b)(1), we shall not address respondent’s argument that
petitioners are liable for that year for that penalty because of
a substantial understatement of tax under sec. 6662(b)(2).
18We note that Taibo v. Commissioner, T.C. Memo. 2004-196,
is materially distinguishable from the instant case. In Taibo,
the taxpayer, unlike petitioners in the instant case, filed his
return for the year in question (i.e., 2000) prior to the issu-
ance of Specking v. Commissioner, supra.
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