Ford v. Comm'r

2005 T.C. Memo. 101, 89 T.C.M. 1139, 2005 Tax Ct. Memo LEXIS 101
CourtUnited States Tax Court
DecidedMay 9, 2005
DocketNo. 3436-97
StatusUnpublished
Cited by1 cases

This text of 2005 T.C. Memo. 101 (Ford v. Comm'r) is published on Counsel Stack Legal Research, covering United States Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Ford v. Comm'r, 2005 T.C. Memo. 101, 89 T.C.M. 1139, 2005 Tax Ct. Memo LEXIS 101 (tax 2005).

Opinion

DONALD G. FORD, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Ford v. Comm'r
No. 3436-97
United States Tax Court
T.C. Memo 2005-101; 2005 Tax Ct. Memo LEXIS 101; 89 T.C.M. (CCH) 1139;
May 9, 2005, Filed
*101 Donald G. Ford, pro se.
Aubrey C. Brown and Andrew M. Winkler, for respondent.
Colvin, John O.

COLVIN

MEMORANDUM OPINION

COLVIN, Judge: This case is before the Court on respondent's motion for default and entry of decision. Respondent requests that we find petitioner in default and enter a decision against him for deficiencies including additions to tax for fraud and the fraud penalty. Petitioner was ordered to file a response to respondent's motion, but he failed to do so. We will grant respondent's motion for reasons described below.

Respondent determined deficiencies in petitioner's income tax and additions to tax and a penalty for taxable years 1986 to 1990 as follows: 1

                Additions to tax        Penalty

Year    Deficiency  Sec. 6651(a)(1)  Sec. 6653(b)(1)   Sec. 6663____    __________   _______________   _______________   _________

1986    $ 152,373              $ 114,280

1987      10,819               8,115

1988      58,380       --        43,785        --

1989   *102    55,509      $ 5,266        --      $ 41,632

1990      45,637

34,228

Section references are to the Internal Revenue Code as in effect during the years in issue. Rule references are to the Tax Court Rules of Practice and Procedure.

Background

A. The Pleadings

The petition in this case was filed on February 24, 1997. Petitioner lived in Louisville, Kentucky, when the petition was filed.

In the answer, respondent alleged:

     (a) Throughout the years in issue, Petitioner and W. Paul

   Schultz (Schultz), Petitioner's accountant and return preparer,

   willfully conspired to evade and defeat income tax due from

   Petitioner for those years.

     (b) Petitioner and Schultz willfully made and signed

   federal income tax returns for Petitioner's 1986 through 1990

   tax years, *103 which returns were made under the penalties of

   perjury and were filed with the Internal Revenue Service (the

   Service), which returns they did not believe to be true and

   correct as to every material matter. In preparing, signing, and

   filing those returns, Petitioner and Schultz knew that the

   returns were false and fraudulent as to material matters.

     (c) Throughout the years in issue, Petitioner was a used

   car dealer in Louisville, Kentucky, and Schultz was a Certified

   Public Accountant in that same city.

     (d) The manner and means by which Petitioner and Schultz

   sought to carry out the conspiracy to evade income tax for

   Petitioner's tax years in issue included the willful creation of

   a fraudulent assignment of a note receivable. It was further a

   part of such effort to evade and defeat Petitioner's income tax

   liability for Petitioner and Schultz to cause this fraudulent

   transaction and loss to be reported and carried forward on

   Petitioner's returns. The fraudulent loss amount was

  $ 300,000.00.

     (e) In furtherance*104 of their conspiracy Petitioner and

   Schultz committed a number of overt acts.

     (f) In about 1984, Petitioner sold real estate to Huber's,

   Inc., for a total of $ 1,500,000.00.

     (g) On his return for his 1984 tax year, Petitioner

   reported that he had sold the land for $ 400,000.00, that his

   basis in the land was $ 440,000.00, and that his loss on the sale

   of the land was $ 40,000.00. He further reported that he sold the

   buildings on the land for $ 1,100,000.00 and was electing the

   installment method of reporting that sale, with the result that

   he paid no tax on the sale of the buildings for his 1994 tax

   year. His election required that he report as taxable income a

   portion of all payments he received on the sale of the

   buildings.

     (h) On the above sale, Huber's, Inc., paid Petitioner a

  $ 400,000.00 down payment and gave him a promissory note for

  $ 1,100,000.00. Huber's Inc. made interest payments on the note

   until in or about the year 1986.

     (i) In July, 1986, Ken Huber (Huber), president of Huber's,

*105    Inc., notified Petitioner of its intent to pay off the

  $ 1,100,000.00 note. Petitioner asked Huber if Huber's, Inc.,

   would agree to pay off $ 800,000.00 of the note and renegotiate a

   note for the remaining $ 300,000 balance, which Huber's, Inc.,

   subsequently agreed to do.

     (j) On December 10, 1986, Petitioner and his then wife,

   Margaret Ford, executed an assignment conveying all of

   Petitioner's interest in the $ 1,100,000.00 note to Schultz. The

   assignment recited that it was made in consideration for

   Schultz's payment of $ 800,000.00 to Petitioner.

     (k) On that same date, Schultz applied for and received a

   loan in the amount of $ 800,000.00 from the Bank of Louisville.

   Schultz's loan application showed no information about his

   ability to repay the loan.

     (l) On that same date, Schultz used the proceeds of the

  $ 800,000.00 loan to purchase a one year certificate of deposit

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Hill v. Comm'r
2015 T.C. Memo. 172 (U.S. Tax Court, 2015)

Cite This Page — Counsel Stack

Bluebook (online)
2005 T.C. Memo. 101, 89 T.C.M. 1139, 2005 Tax Ct. Memo LEXIS 101, Counsel Stack Legal Research, https://law.counselstack.com/opinion/ford-v-commr-tax-2005.