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LIBERTY NATIONAL BANK AND TRUST COMPANY v. COMMISSIONER

Docket No. 6508-77.

38 T.C.M. 314 (1979)

T.C. Memo. 1979-74

Liberty National Bank and Trust Company, Trustee of Oharco Liquidating Trust v. Commissioner.

United States Tax Court.

Filed March 5, 1979.

Attorney(s) appearing for the Case

Frank D. Hill and Terry R. Hanna, 100 Park Avenue Bldg., Oklahoma City, Okla., for the petitioner. Thomas J. Miller, Charles N. Woodward and Robyn R. Jones, for the respondent.

Memorandum Opinion

DAWSON, Judge:

Respondent determined that petitioner was liable as a transferee for the following deficiencies in the Federal income taxes of Oharco Liquidating Company:

  Year                        Deficiency

  1971 .....................  $171,363.96
  1972 .....................    22,398.64
  1973 .....................    24,000.00
    Taxable period
  1/1/74 thru 5/31/74 ......       749.69

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