Stewart v. Commissioner
United States Tax Court
Petitioners timely filed joint returns for the calendar years 1962 and 1963 each of which contained fraudulent understatements of taxable income and tax due. After respondent commenced audit of petitioners' returns but prior to the mailing of the notice of deficiency herein, petitioners paid and respondent assessed the remainder of the correct tax due for each of these years.
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Petitioners timely filed joint returns for the calendar years 1962 and 1963 each of which contained fraudulent understatements of taxable income and tax due. After respondent commenced audit of petitioners' returns but prior to the mailing of the notice of deficiency herein, petitioners paid and respondent assessed the remainder of the correct tax due for each of these years. Respondent subsequently determined in his notice of deficiency that petitioners were liable for the fraud penalty pursuant to sec. 6653(b). Held, the fraud penalty prescribed by sec. 6653(b) is to be applied to the…
1Opinion of the Court
OPINION
Sterrett, Judge:
Respondent determined additions to petitioners’ Federal income taxes for the calendar years 1962 and 1963 as follows:
Additions to tax pursuant to Year sec. 6653(b), I.R.C. 1954 1
1962_ $3,679.49
1963_ 2,523.52
The sole issue for decision is whether respondent correctly computed such additions, petitioners’ tax liabilities for those years having been paid in full at the time the notice of deficiency herein was mailed.
All of the facts have been stipulated and are so found. The stipulation of facts, together with the exhibits attached thereto, are incorporated herein by this…
2Cases cited13 opinions
- George M. Still, Inc. v. CommissionerUnited States Tax Court · 1953
- William Levinson and William Levinson, Assignee of F.M.P. Corporation, Formerly Known as Fairmount Motor Products Co., Inc. v. United StatesCourt of Appeals for the Third Circuit · 1974
- Hirschman v. CommissionerUnited States Tax Court · 1949
- Geo. M. Still, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1955
- Eck v. CommissionerUnited States Tax Court · 1951
8 more not listed; retrieve them via the Exa API.
3Cited by41 opinions
- Breman v. CommissionerUnited States Tax Court · 1976
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- Conforte v. CommissionerUnited States Tax Court · 1980
- Estate of Di Rezza v. CommissionerUnited States Tax Court · 1982
- Goodwin v. CommissionerUnited States Tax Court · 1979
36 more not listed; retrieve them via the Exa API.