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additional tax of $5,642. The assessment included an accuracy-
related penalty pursuant to section 6662, a failure to pay
addition to tax pursuant to section 6651(a)(2), and interest for
taxable year 1997.
2. Taxable Year 1998
For the taxable year 1998, petitioners timely filed their
Federal income tax return but failed to report all of their
income and pay their full tax liability by the filing due date.
Respondent issued a notice of deficiency for taxable year 1998,
which petitioners subsequently defaulted. As a result of the
default, respondent assessed an additional tax of $12,208.
Petitioners were also assessed a dishonored check penalty, an
accuracy-related penalty pursuant to section 6662, a failure to
pay addition to tax pursuant to section 6651(a)(2), and interest.
Petitioners’ 1998 tax liability was ultimately paid on June 12,
2003.
3. Taxable Year 1999
For the taxable year 1999, petitioners failed to timely pay
their tax liability. Petitioners were assessed a deficiency, an
addition to tax pursuant to section 6651(a)(2), and interest for
the taxable year 1999. Petitioners’ 1999 tax liability was
ultimately paid on June 26, 2000.
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Last modified: May 25, 2011