Opinion ID: 199059
Heading Depth: 2
Heading Rank: 6

Heading: The Proceedings Before the Tax Court

Text: 36 On April 24, 1996, the Commissioner sent a notice of deficiency to petitioners stating that their federal income tax returns were deficient in the amounts of $194,121 and $133,807 for 1992 and 1993, respectively. The notice further stated that petitioners were liable for accuracy-related penalties pursuant to 26 U.S.C. § 6662 in the amount of $38,824 for 1992 and $26,761 for 1993. On July 22, 1996, petitioners filed a timely petition in the United States Tax Court for a redetermination of the deficiencies and penalties. 37 Following a trial, the Tax Court entered its decision on July 7, 1999. The Tax Court held that petitioners were liable for the deficiencies as assessed by the Commissioner, but that they were not liable for the accuracy-related penalties for negligence. See generally Filios, 1999 WL 163035. This appeal followed. 1