Michael T. Carey and Leone R. Carey, (2003)

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Michael T. Carey and Leone R. Carey, (2003)

T.C. Memo. 2003-281

UNITED STATES TAX COURT MICHAEL T. CAREY AND LEONE R. CAREY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 2003-02. Filed September 30, 2003.

Michael T. Carey and Leone R. Carey, pro se. Jeremy L. McPherson, for respondent.

MEMORANDUM OPINION COLVIN, Judge: This case is before the Court on respondent's motion for summary judgment and motion for a penalty under section 6673.

Respondent determined a deficiency in petitioners' Federal income tax of $498,933 for 1997, an addition to tax under section 6651(a) of $74,874.99, and an accuracy-related penalty under section 6662(a) of $99,786.60.

As discussed below,...

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