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face hearing was conducted in New Orleans on January 31, 2005.
During the face-to-face hearing, petitioner disclosed that he
sold an interest in Fairway Medical Center (FMC) in June 2003,
for $108,000 and refinanced his home in September 2003, for a net
cash payment to him of $25,158. Petitioner also discussed his
ownership interest in Pontchartrain Lithotripsy, LLC, from which
he reported $51,922 of income in 2003, but which he designated on
the Form 433-B as a $10,000 investment held by his professional
corporation. Petitioner explained that his $10,000 initial
investment in Sabine Lithotripsy, LLC (which dissolved into four
entities, one of which was Pontchartrain Lithotripsy, LLC)
entitles him to access a medical mobile unit for use in his
medical practice. He also receives monthly income receipts,
which he said are deposited into his business account. After the
hearing, petitioner provided a list of the monthly income
received from Pontchartrain Lithotripsy. This income totaled
$61,440 for 2004.
Petitioner clarified other issues at the hearing. He
indicated that the lower of the two monthly income amounts on the
different Forms 433-A, $7,963, should be used for consideration
of the offer-in-compromise. Petitioner asserted that his
interest in his professional corporation is limited to the value
of the medical and office equipment (which he estimated to be
$3,630) and that a patient list in the urology field has little
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