William R.Tinnerman - Page 10

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          published opinion 991 F.2d 795 (6th Cir. 1993)(citing Edgar v.              
          Finley, 312 F.2d 533 (8th Cir. 1963)).                                      
               Despite repeated requests for documents by respondent before           
          and at the trial of the instant case, petitioner failed to                  
          substantiate his contention that he had basis in the company’s              
          stock through the contribution of cash he obtained from a                   
          refinancing of the note.5  Indeed, petitioner refused to address            
          that issue, preferring to rely on frivolous arguments.                      
               We deny petitioner’s motion to reopen the record because,              
          among other reasons, it is prejudicial to respondent, but note              
          that, even if we were to admit the documents petitioner wishes to           
          submit, the documents fail to support petitioner’s contention               
          that he is personally liable on a refinancing of the note, that             
          the company was relieved of its debt pursuant to the note, and              
          that he actually contributed the proceeds of the refinancing of             
          the note to the capital of the company.                                     
               We do not address with somber reasoning and copious                    
          citations of precedent petitioner’s arguments that he is not                
          required to file tax returns or pay income tax, as to do so might           
          suggest that petitioner’s arguments possess some degree of                  
          colorable merit.  See Crain v. Commissioner, 737 F.2d 1417, 1417            

               5Petitioner claims he has basis in his stock of the company            
          sufficient to offset capital gains distributions he received from           
          the company.                                                                






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