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We must decide whether respondent may proceed with the
collection action as determined in the notice of determination
with respect to petitioner’s taxable year 1998. We hold that
respondent may proceed with that collection action.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
Petitioner resided in Wolfe City, Texas, at the time he
filed the petition in this case.
On July 2, 2001, petitioner Perry Westcott and his spouse,
Gladys Marie Westcott, jointly filed Form 1040, U.S. Individual
Income Tax Return (Form 1040), for their taxable year 1998 (1998
return).2 Petitioner’s 1998 return showed tax due of $46,721.87.
When petitioner filed his 1998 return, he did not pay the tax due
shown in that return even though he had the money to pay such
tax. Instead, petitioner used the money with which he would have
otherwise paid the tax due shown in his 1998 return and purchased
a business.
On March 4, 2002, respondent assessed the total tax shown in
petitioner’s 1998 return,3 as well as certain additions to tax
2This case involves only petitioner Perry Westcott. For
convenience, with a few exceptions, all future references shall
be only to petitioner.
3The record does not disclose the total tax shown in
petitioner’s 1998 return.
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