Flahertys Arden Bowl, Inc. v. Commissioner of Internal Revenue

Flahertys Arden Bowl, Inc. (Taxpayer), appeals from the decision of the Tax Court, 1 Flahertys Arden Bowl, Inc. v. Comm’r, 115 T.C. 269, 2000 WL 1372869 (2000), granting judgment to the Commissioner of the Internal Revenue Service on the Commissioner’s claim that Taxpayer failed to file excise tax returns and pay the required taxes in 1993 and 1994. 2 The Tax Court held that Taxpayer was subject to tax liability under I.R.C. § 4975(a) (1988) as a result of loans made to Taxpayer from two pension funds of which Patrick F. Flaherty, an officer of Taxpayer who owned more than fifty per cent of…