IT&S OF IOWA, INC. v. COMMISSIONER

Docket No. 10741-88.

97 T.C. 496 (1991)

IT&S OF IOWA, INC., AND IOWA TRUST AND SAVINGS BANK, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed November 12, 1991.


Attorney(s) appearing for the Case

Philip C. Cook, Terence J. Greene, and Timothy J. Peaden, for the petitioners.

Anne Hintermeister, William H. Stoddard III, and Patricia A. Donahue, for the respondent.


WELLS, Judge:

Respondent determined deficiencies in petitioners' Federal income tax as follows:

     Year                            Deficiency

     1972 ............................ $6,703
     1974 ............................ 75,008
     1979 ............................  1,241
     1984 ............................ 77,252

After stipulations by the parties, the issues remaining...

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