United Circuits, Inc. - Page 1

                                 T.C. Memo. 1995-605                                  


                               UNITED STATES TAX COURT                                


                         UNITED CIRCUITS, INC., Petitioner v.                         
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 20548-94.      Filed December 26, 1995.                     


               Gino Pulito, for petitioner.                                           
               John E. Budde, for respondent.                                         


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               COHEN, Judge:  Respondent determined deficiencies of $68,587           
          and $33,638 in petitioner's 1989 and 1990 Federal income taxes,             
          respectively, and accuracy related penalties of $9,386 and $55              
          under section 6662(a) for 1989 and 1990, respectively.  Unless              
          otherwise indicated, all section references are to the Internal             
          Revenue Code in effect for the years in issue, and all Rule                 
          references are to the Tax Court Rules of Practice and Procedure.            







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