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Income Tax Return, for 2000. The return was signed by decedent
and Mr. Gill on April 11, 2001, and filed with the Internal
Revenue Service (IRS). The Form 1040 was accompanied by a
Schedule D, Capital Gains and Losses, that reflected the sale of
257,500 shares of eConnect, with an acquisition date of
September 8, 1998, a basis of zero, and resultant long-term
capital gain of $2,974,393. The return also reported interest
and dividend income received with respect to various financial
accounts, including accounts at AmSouth, Dean Witter Reynolds,
Fiserv, Valdes & Moreno, and Wells Fargo. Decedent did not file
a gift tax return for 1999, 2000, 2001, 2002, or 2003.
Mr. Greene filed a Form 1040 for 2000 prepared by an
individual not associated with Mr. Gill’s firm. The return
reported no capital gain or loss and no interest or dividends.
Mr. Greene’s return was subsequently selected for examination by
the IRS, but the audit in mid-2002 yielded no recommended
changes.
By early 2003, decedent’s 2000 income tax return was
likewise under examination. In April of 2003, decedent executed
a Form 2848, Power of Attorney and Declaration of Representative,
authorizing Mr. Gill to represent her in connection with the 2000
audit. Following decedent’s intervening death on June 17, 2003,
Mr. Gill continued review of the 2000 return and obtained
additional documentation from the estate. That review led him to
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