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Section 6663(b) provides that if the Commissioner
establishes that any portion of the underpayment is attributable
to fraud, then the entire underpayment is treated as attributable
to fraud, except with respect to the portion of the underpayment
that the taxpayer establishes, by a preponderance of the
evidence, is not attributable to fraud. In this case, the entire
underpayment of tax for each year was due to petitioner’s fraud
--petitioner admits as much--and thus we sustain the imposition
of the 75-percent penalty on the entire amount of each year’s
underpayment.
As previously stated, petitioner does not dispute the fact
that his returns for the years at issue were fraudulent, nor does
he offer any evidence to show that the fraud penalty should be
imposed on less than the entire underpayment for each year.
Rather, petitioner expresses concern that he will suffer economic
hardship if he is required to pay the penalties determined in the
notice of deficiency and statutory interest. He asks the Court
to grant him “any relief to which [he] may be entitled by law,
regulation, or equity.” In other words, petitioner audaciously
asks the Court to relieve him of the consequences of violating
the very laws and regulations that he now attempts
(improvidently, we might add) to invoke.
As for relief based in equity, it is worth noting that
petitioner is seeking to be put in the same position as he would
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Last modified: November 10, 2007