Perry Westcott - Page 2

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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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