Précis: Mr. and Mrs. Kim operated a laundry and dry-cleaning business as equal partners. They were reassessed for unreported business income in the 2010 and 2011 taxation years on a net worth basis. Gross negligence penalties were sustained. There was no order as to costs since these were informal procedure appeals.
Kim v. R. - TCC: Net worth assessments and gross negligence penalties sustained in large partREAD MORE »