Memorandum Findings of Fact and Opinion
This proceeding involves a deficiency in income tax and a five per cent penalty for the taxable year 1949 in the amounts of $551.92 and $27.60, respectively. The issue for our determination is whether the petitioners understated their gross income and taxable net income for the year 1949 by the sum of $3,035.44.
Findings of Fact
Petitioners, husband and wife residing in Washington, D. C., filed their joint...
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