PEOPLE BANCORPORATION AND SUBSIDIARIES v. COMMISSIONER

Docket No. 29058-89.

63 T.C.M. 3028 (1992)

T.C. Memo. 1992-285

Peoples Bancorporation and Subsidiaries v. Commissioner.

United States Tax Court.

Filed May 18, 1992.


Attorney(s) appearing for the Case

Philip C. Cook, Terence J. Greene, and Timothy James Peadon, 1201 W. Peachtree St., Atlanta, Ga., for the petitioners. Anne Hintermeister and William Stoddard, for the respondent.


Memorandum Findings of Fact and Opinion

HAMBLEN, Judge:

Respondent determined deficiencies in Federal income tax as follows:

Taxable Year                            Deficiency

   1971 ............................   $ 20,898.16
   1974 ............................    186,549.00
   1975 ............................      6,119.48
   1983 ............................    292,818.58
   1984 ............................      6,264...

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