-17-
same time, petitioners also filed an amended 1999 Federal income
tax return claiming without further explanation that $13,038
reported as compensation received from NT during 1999 was really
a loan repayment. Each of these amended returns claimed a refund
resulting from the claimed recharacterization of the originally
reported compensation as loan repayments. Respondent did not
grant either of those claims for refund.
F. Petitioners’ Financial Accounts
1. Overview
Throughout the subject years, petitioners had 13 bank or
investment accounts (collectively, financial accounts). Nine of
the financial accounts were in the name of LeBloch. The
remaining four financial accounts were in the name of Michelsen.
2. LeBloch’s Accounts
LeBloch had three financial accounts at the LAIRE Federal
Credit Union (LAIRE). The first account, a primary savings
account (LAIRE 00), was open from January 1, 1997, through
February 12, 1999. The second account, a checking account (LAIRE
50), was open during all of 1997 and 1998. The third account, a
secondary savings account (LAIRE 01), was open from June 19
through December 31, 1998.
LeBloch had three financial accounts at the Postal & Federal
Employees Credit Union (PFE). Each of these accounts was open
from September 24, 1998, through December 31, 1999. These
Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
Last modified: November 10, 2007