Residential Management Services Trust, (2001)
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Residential Management Services Trust, (2001)
T.C. Memo. 2001-297
UNITED STATES TAX COURT RESIDENTIAL MANAGEMENT SERVICES TRUST, ROBERT HOGUE, TRUSTEE, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent MICHAEL T. AND LEONE R. CAREY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 10400-99, 10502-99. Filed November 7, 2001.R attributed to H and W gross receipts and interest with respect to a trust, on the grounds that the trust was either a sham or a grantor trust, or on the ground that the assignment of income doctrine applies. R also claims that H and W failed to report certain nontrust items of income and overstated certain deductions. R determined a sec. 6662(a), I.R.C., accuracy-related penalty against H and W. R determined that the trust understated income, overstated deductions, and is liable for an accuracy-related penalty, but R has orally moved to dismiss for lack of jurisdiction with respect to the trust on the ground that no proper person has petitioned the Court on behalf of the trust. Ps claim that R bears the burden of proof.1. Held: Trust income is attributed to H and W for the reasons stated by R. 2. Held, further, H and W omitted nontrust income and overstated deductions. 3. Held, further, H and W are liable for the accuracy-related penalty under sec. 6662(a), I.R.C. 4. Held, further, R's motion to dismiss for lack of jurisdiction will be granted. 5. Held, further, Ps bear the burden of proof.Robert Hogue, pro se in docket No. 10400-99. Michael T. Carey, pro se in docket No. 10502-99. Jeremy L. McPherson, for respondent.MEMORANDUM FINDINGS OF FACT AND OPINION HALPERN, Judge: These consolidated cases involve determinations by respondent of deficiencies in, and penalties with respect to, the Federal income tax liabilities of the following taxpayers, for the 1995 taxable (calendar) year of each, in the following amounts:Penalty Taxpayer(s) Deficiency Sec. 6662(a) Res. Mgmt. Svcs. Tr. $65,834 $13,167Michael & Leone Carey 272,707 54,541These cases are related in that, under various theories, respondent believes that there is an identity between Residential Management Services Trust (the trust) and Michael and Leone Carey (the Careys ...See the full content of this document
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