Estate of Maurice G. Todisco, Framingham Trust Company v. Commissioner of Internal Revenue

LEVIN H. CAMPBELL, Chief Judge.

This is an appeal by the estate of Maurice G. Todisco, through the Framingham Trust Company, its executor, from a decision of the United States Tax Court that there was a deficiency in Todisco’s income tax for the taxable year 1972 of $14,598 plus interest and penalties for negligent underpayment and failure to timely file a return, and that there was no deficiency or overpayment for the taxable year 1973. Estate of Todisco v. Commissioner, 46 T.C.M. (CCH) 35 (1983).

I. FACTS

Maurice G. Todisco was part owner and an employee of a bar. His 1972 and 1973 federal…