Faylor v. Commissioner

William O. Faylor and Kathryn Faylor v. Commissioner.

Faylor v. Commissioner

Docket No. 65255.

United States Tax Court

T.C. Memo 1963-190; 1963 Tax Ct. Memo LEXIS 153; 22 T.C.M. (CCH) 918; T.C.M. (RIA) 63190;

July 16, 1963

Norman A. Peil, Jr., and Michael Kivko, 430 Market St., Sunbury, Pa., for the petitioners.

Dennis C. DeBerry and Max J. Hamburger for the respondent.

FORRESTER

Memorandum Findings of Fact and Opinion

FORRESTER, Judge: Respondent has determined a deficiency in petitioners' income tax for the calendar year 1953 in the amount of $82,828.80. Certain minor adjustments have not been…