McCoy v. Commissioner

10 T.C.M. 1019, 1951 Tax Ct. Memo LEXIS 56
Procedural entryThis page is a short order in McCoy v. Commissioner. Read the opinion of the Court — 15 T.C. 828
United States Tax Court·Decided October 26, 1951·No. Docket No. 25359.·Unpublished

Opinion

Claudia Jane McCoy v. Commissioner.
McCoy v. Commissioner
Docket No. 25359.
United States Tax Court
1951 Tax Ct. Memo LEXIS 56; 10 T.C.M. (CCH) 1019; T.C.M. (RIA) 51315;
October 26, 1951
J. B. Fisher, Esq., 512 Kanawha Banking & Trust Bldg., Charleston 1, W. Va., for the petitioner. Lyman G. Friedman, Esq., for the respondent.

DISNEY

Memorandum Findings of Fact and Opinion

DISNEY, Judge: This case involves income tax liability and additions, for the calendar years and in the amounts, in which deficiencies were determined by the Commissioner, as follows:

Income Tax
YearDeficiency50% Addition
1942$ 695.53$ 347.77
19432,367.331,238.17
19442,031.041,015.52
1945956.76478.38

The deficiencies were*57 determined because of the differences between net income as disclosed by return and as adjusted in the notice of deficiency, as follows:

Statutory
YearReturnNotice
1942$ 927.00$ 4,716.06
19431,667.1010,002.84
19442,976.0810,092.01
19451,631.235,863.68

The returns as filed showed no taxable liability for 1942 or 1943, a tax liability of $403 for 1944, and a liability of $124 for 1945. An amended return for 1943 disclosed net income and victory tax net income of $1,667.10 and tax liability of $109. At trial and upon brief the petitioner specifically admitted the correctness of the Commissioner's adjustment of income for 1944 and 1945, and does not contest his adjustment for 1942 and 1943. This leaves for consideration only three issues: (a) Was the petitioner entitled to dependency exemptions for three minor grandchildren in addition to exemption allowed for a minor child, for the years 1942 to 1945, inclusive; (b) was petitioner entitled to dependency exemption for an adult daughter for the years 1944 and 1945; and (c) has the statute of limitations run for the taxable years 1942 and 1943, against the assessments of tax against petitioner, *58 or were petitioner's returns for the taxable years made with intent to evade tax so that the statute of limitations against assessment has not run, under the provisions of section 276(a) of the Internal Revenue Code, and was any part of the deficiency for each taxable year due to fraud with intent to evade tax, rendering applicable the assessment of an additional 50 per cent of the total amount of such deficiency.

Findings of Fact

The petitioner is a resident of Williamson, West Virginia. Her Federal income tax returns were filed on a calendar year and cash basis with the collector of internal revenue for the district of West Virginia.

The petitioner's income tax returns for 1942 to 1945, inclusive, reported her business as the hotel business. She operated a hotel and restaurant. In 1945 she pleaded guilty in the circuit court of Mingo County, West Virginia, to operating a house of ill fame, and paid a fine and was sentenced to serve a term of seven months in the Mingo county jail and pay a fine of $200 and costs. The court further ordered that she be enjoined and restrained from permitting the use of the Williamson Hotel in the city of Williamson as a*59 house of ill fame and that it be closed for a period of one year or until the further order of the court, and forthwith locked by the sheriff. Liquor sales were made in her hotel. She knew it, and derived income therefrom.

The petitioner's returns were prepared by a real estate agent, for the taxable years 1942, 1943 and 1944 and by a local public accountant who was also an insurance agent, for 1945. Neither the real estate agent nor the insurance agent was an attorney or certified public accountant. The returns were prepared upon information furnished by the petitioner.

Petitioner executed on February 16, 1949, a consent to the extension of time for the assessment of income taxes for 1945, to June 30, 1950. The notice of deficiency here involved was mailed August 23, 1949.

Some time prior to December 31, 1941, petitioner received $2,295.14 as insurance on the life of her husband. He had died in 1930 at a veterans hospital. On December 31, 1941, the petitioner owned a piece of property at Williamson, West Virginia, costing $100 and had $866.96 in the bank and her net worth was $966.96.

In 1942 petitioner began to purchase real estate, largely through the real estate agent who*60 made out her income tax returns.

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McCoy v. Commissioner, 10 T.C.M. 1019, 1951 Tax Ct. Memo LEXIS 56 (tax 1951).

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