Memorandum Findings of Fact and Opinion
FORRESTER, Judge:
Respondent has determined deficiencies in petitioner's Federal income tax for the taxable years 1971 and 1972, in the respective amounts of $38,631.86 and $47,281.90. Concessions having been made, the sole remaining issue for our decision is whether the bonus paid by Steel Constructors, Inc., to its president and majority stockholder, Robert Hawes, was reasonable to the extent that it exceeded $28...
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