Shawn Timothy Hynes - Page 5




                                        - 4 -                                         
              After graduating from law school, petitioner moved to New               
          York City so that he would be able to take a bar preparation                
          course for the California bar exam.  In September 2003,                     
          petitioner moved from New York City to Palo Alto, California, to            
          work as a securities associate with the law firm of Simpson                 
          Thacher & Bartlett (STB).  Before starting at STB, petitioner               
          received an advance from STB to cover the costs associated with             
          his move from New York City to Palo Alto.                                   
              Petitioner timely filed his 2003 Federal income tax return.             
          Petitioner reported wages, salaries, and tips on his return.  His           
          wages of $51,304 were earned from his employment at STB from                
          September through December of 2003.                                         
              Respondent received the following third party information for           
          petitioner that was not otherwise reflected on his 2003 income              
          tax return:  (1) Interest income on Wachovia Bank accounts of $7            
          and $9, (2) a pension and annuity payment of $16,263 (with income           
          tax withheld of $3,252), and (3) student loan interest payments             
          of $1,509 paid to Student Financial Assistance and $1,516 paid to           
          Duke University.                                                            
              Respondent issued to petitioner a notice of deficiency that             
          explained the changes made to his 2003 Federal income tax based             
          on the third-party information.  The notice showed that                     
          petitioner had understated his income tax on his 2003 return by             






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  Next 

Last modified: March 27, 2008