Wright v. Comm'r

2007 T.C. Memo. 50, 2007 U.S. Tax Ct. LEXIS 41
CourtUnited States Tax Court
DecidedMarch 5, 2007
DocketDocket No. 3276-05
StatusUnpublished
Cited by2 cases

This text of 2007 T.C. Memo. 50 (Wright 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
Wright v. Comm'r, 2007 T.C. Memo. 50, 2007 U.S. Tax Ct. LEXIS 41 (tax 2007).

Opinion

MARK N. WRIGHT AND ERICA Y. WRIGHT, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Wright v. Comm'r
Docket No. 3276-05
United States Tax Court
2007 U.S. Tax Ct. LEXIS 41; T.C. Memo 2007-50;
March 5, 2007, Filed

Decision will be entered under Rule 155.

Ps established offshore entities, and an offshore bank account and credit card, that they used to conceal unreported income. Ps also understated their S corporation's income and failed to include in their income distributions from the S corporation that exceeded their basis.

R determined deficiencies for 1999, 2000, and 2001, and additions to tax pursuant to sec. 6651(a)(1), I.R.C., for 1999 and 2000. R determined civil fraud penalties for P-H pursuant to sec. 6663, I.R.C., for 1999, 2000, and 2001. In the alternative to liability for sec. 6663, I.R.C., R determined accuracy-related penalties for Ps pursuant to sec. 6662, I.R.C., for 1999, 2000, and 2001.

Held: R's deficiency determinations for 1999, 2000, and 2001, are sustained.

Held, further, Ps are liable for the additions to tax pursuant to sec. 6651(a)(1), I.R.C., for 1999 and 2000.

Held, further, P-H is liable for the civil fraud penalty pursuant to sec. 6663, I.R.C., for 1999, 2000, and 2001.

Mark and Erica Wright, Pro se.*41 1
Stephen R. Takeuchi, for respondent.
WHERRY, Judge.

WHERRY
MEMORANDUM FINDINGS OF FACT AND OPINION

WHERRY, Judge: This case is before the Court on a petition for judicial review of a notice of deficiency issued November 23, 2004, to both petitioners for their 1999, 2000, and 2001 taxable years. Respondent determined the following Federal income tax deficiencies, additions to tax, and penalties for petitioner Mark N. Wright's (Mr. Wright) 1999, 2000, and 2001 taxable years:2*42

Addition to TaxPenalty
YearDeficiencySec. 6651(a)(1)Sec. 6663
1999$34,194.00$8,528.25$25,645.50
20004,183.00416.003,137.25
200110,495.00--7,870.95

Respondent determined the following Federal income tax deficiencies, additions to tax, and penalties for petitioner Erica Y. Wright's (Mrs. Wright) 1999, 2000, and 2001 taxable years:

Addition to TaxPenalty
YearDeficiencySec. 6651(a)(1)Sec. 6662

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Related

Jasperson v. Comm'r
2015 T.C. Memo. 186 (U.S. Tax Court, 2015)
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2015 T.C. Memo. 121 (U.S. Tax Court, 2015)

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Bluebook (online)
2007 T.C. Memo. 50, 2007 U.S. Tax Ct. LEXIS 41, Counsel Stack Legal Research, https://law.counselstack.com/opinion/wright-v-commr-tax-2007.