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AVIS INDUSTRIAL CORP. v. COMMISSIONER

Docket No. 20575-93.

70 T.C.M. 641 (1995)

T.C. Memo. 1995-434

Avis Industrial Corporation and Subsidiaries v. Commissioner.

United States Tax Court.

Filed September 11, 1995.

Attorney(s) appearing for the Case

Patrick J. Burns, Indianapolis, Ind., and G. Scott Nebergall, for the petitioner. Ronald T. Jordan, for the respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION

COHEN, Judge:

Respondent determined a deficiency of $1,052,400 in petitioner's Federal income tax for 1988. The issues for decision are whether deductions claimed by petitioner Avis Industrial Corp. and subsidiaries (petitioner) for salary, bonuses, term life insurance premiums, and loan forgiveness for Leland E. Boren (Boren) and for Richard T. Doermer (Doermer) for 1988 exceed reasonable compensation for services...

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