Memorandum Findings of Fact and Opinion
This proceeding involves deficiencies in income tax and penalties as follows:
Year Ended 50% 25% May 31st Deficiency Penalty Penalty 1949 ......... $5,327.91 $2,663.96 $1,331.98 1950 ......... 7,258.69 3,629.35 1,814.67
The deficiencies arise from the disallowance of deductions for wages and from some unreported...
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