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The Payment
In January 2001, approximately 1 month after petitioner was
promoted to the PCI presidency, she received a $160,000 payment
from PCI. Petitioner opened a bank account for Bossart, an
entity she created for her commercial photography business, in
anticipation of her receipt of the $160,000 payment. Dave Skone
(Mr. Skone), PCI’s accountant, helped petitioner with the Bossart
licensing and other paperwork. Petitioner deposited the $160,000
into Bossart’s bank account, over which she had sole signatory
authority.
Petitioner played a limited role in determining how she
would receive the $160,000 payment. Her lawyer, Herman
Pettegrove (Mr. Pettegrove), contacted Mr. Skone. Mr. Hoiland,
Mr. Skone, and Mr. Pettegrove arranged the payment to her.
Petitioner and Mr. Pettegrove allege that Mr. Skone characterized
the payment as a gift. Neither Mr. Pettegrove nor petitioner
asked PCI for documentation that the payment was a gift. PCI
issued petitioner a Form 1099-MISC, Miscellaneous Income,
reporting that it paid petitioner $160,000.
Petitioner and Mr. Hoiland discussed bonuses at Christmas
time, a few weeks before PCI paid her the $160,000. It was
petitioner’s belief that no other employee of PCI received a
bonus as large as $160,000.
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Last modified: March 27, 2008