Foretravel, Inc. - Page 1

                                         T.C. Memo. 1995-494                                               


                                       UNITED STATES TAX COURT                                             


                                 FORETRAVEL, INC., Petitioner v.                                           
                       COMMISSIONER OF INTERNAL AL REVENUE, Respondent                                     


                  Docket No. 27875-92.               Filed October 12, 1995.                               


                  George W. Connelly, Jr., and Linda S. Paine, for petitioner.                             
                  Lillian D. Brigman and Susan V. Sample, for respondent.                                  



                            MEMORANDUM FINDINGS OF FACT AND OPINION                                        
                  CLAPP, Judge:  Respondent determined deficiencies in, and                                
            additions to, petitioner's Federal corporate income taxes as                                   
            follows:                                                                                       
            FYE                             Additions to Tax                                               
            June 30      Deficiency        Sec. 6661    Sec. 6662                                          
            1989        $1,358,614        $339,654         --                                              
            1990           922,494           --        $184,499                                            






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