- 2 -
Respondent determined for 2002 a deficiency in petitioner’s
Federal income tax of $8,877, an addition to tax under section
6651(a)(1) of $1,650, an addition to tax under section 6651(a)(2)
of $1,063, and an addition to tax under section 6654(a) of $239.
The issues for decision are whether petitioner: (1) May exclude
under section 104(a)(2) certain damages received, (2) paid
unreported business expenses, (3) is liable for the failure to
timely file addition to tax under section 6651(a)(1), (4) is
liable for the failure to pay timely addition to tax under
section 6651(a)(2), and (5) is liable under section 6654(a) for
the addition to tax for failure to pay estimated tax.
Background
The stipulation of facts and the exhibits received into
evidence are incorporated herein by reference. At the time the
petition in this case was filed, petitioner resided in Greeley,
Colorado.
For several years, until his independent sales contract was
terminated in 1999, petitioner worked for Cronatron Welding
Systems, Inc. (Welding). Petitioner then began working with Gard
Specialists Co. (Gard). Gard was and is in the business of
selling nuts, bolts, screws, traps, drills, grinding discs, and
chemicals for maintenance operations. Petitioner continues to
work for Gard.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: November 10, 2007