Daniel J. and Joyce A. Roderick - Page 3

                                        - 2 -                                         
               Respondent determined a deficiency in petitioners’ Federal             
          income tax of $27,414 and a section 6662(a) penalty of $5,405 for           
          their 2003 taxable year.  After concessions1 by petitioner Daniel           
          J. Roderick (petitioner),2 the issues we must decide are whether            
          petitioner must include in income for 2003 the entire amount of             
          nonemployee compensation he received from GMAC Mortgage                     
          Corporation (GMAC) or whether a portion of that income belonged             
          to another taxpayer who worked with petitioner, and whether                 
          petitioner is entitled to deduct certain nonreimbursed business             
          expenses.                                                                   
                                     Background                                       
               Some of the facts have been stipulated.  The parties’                  
          stipulation of facts is incorporated in this opinion by                     



               1Petitioner Daniel J. Roderick (petitioner) concedes that he           
          received compensation from GMAC Mortgage Corporation (GMAC) and             
          pension and annuity income from Fidelity Investments and that he            
          should have reported both receipts on petitioners’ 2003 tax                 
          return.  Petitioner’s concessions support respondent’s position             
          that the sec. 6662(a) penalty is appropriate.  Moreover,                    
          petitioners did not assign error to the sec. 6662(a) penalty and            
          have therefore conceded the issue.  See Rule 34(b)(4); Funk v.              
          Commissioner, 123 T.C. 213, 215 (2004).  Accordingly, petitioners           
          are liable for the sec. 6662(a) penalty.                                    
               2Petitioners are now divorced, and petitioner Joyce A.                 
          Roderick did not appear at trial on Oct. 30, 2006, in Atlanta,              
          Georgia.  Petitioner and respondent sought to enter a stipulation           
          of facts signed by petitioner and respondent but not by                     
          petitioner Joyce A. Roderick.  By order dated Oct. 30, 2006, we             
          dismissed the instant case for lack of prosecution insofar as it            
          relates to petitioner Joyce A. Roderick.  Respondent and                    
          petitioner read the stipulation of facts into the record.                   




Page:  Previous  1  2  3  4  5  6  7  Next

Last modified: May 25, 2011