SCHALEKAMP v. COMMISSIONER

Docket No. 17980-96.

76 T.C.M. 204 (1998)

T.C. Memo. 1998-277

Johannes M. Schalekamp v. Commissioner.

United States Tax Court.

Filed July 29, 1998.


Attorney(s) appearing for the Case

William M. Sharp, Sr., Tampa, Fla., William T. Harrison III, and Vernon Jean Owens, for the petitioner. Howard P. Levine, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

HALPERN, Judge:

By notice of deficiency dated May 22, 1996, respondent determined a $4,834,273 deficiency in petitioner's 1989 Federal income tax, a $178,587 accuracy-related penalty, and a $2,956,005 fraud penalty.

Respondent has conceded the fraud penalty. The issues remaining for decision are: (1) Whether the period of limitations on assessment and collection of petitioner's income tax liability for 1989...

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