Memorandum Findings of Fact and Opinion
The respondent determined deficiencies in income tax and fraud penalties for the years and in the amounts as follows:
Year Deficiency 50% Penalty 1924 ........ $175,393.62 $87,696.81 1926 ........ 52,722.86 26,361.43 1927 ........ 4,014.40 2,007.20
The basis for the deficiencies is unreported fees for professional services. The fraud penalties are asserted...
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