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Morris as its secretary,8 and he prepared the Form 1120S filed by
Meadows for 1989 and signed it as its secretary-vice president.
MCIC
During the years at issue, except for maintaining a checking
account at the Champaign National Bank (MCIC account) on which
Mr. Morris was the sole signatory and into which Mr. Morris
deposited certain of the embezzled funds, MCIC conducted no
activities.
The Financial Situation of
Petitioner and Her Family
Petitioner and Mr. Morris, who were married on December 23,
1967, have a son and a daughter. During the years at issue,
petitioner was responsible for handling the family finances. In
that connection, she deposited checks and other funds into the
joint checking account and/or the joint savings account (joint
savings account) that Mr. Morris and she maintained at the First
State Bank of Monticello (joint checking and/or savings accounts)
and used the funds in those accounts to pay the family bills.
For each of the years 1987, 1988, and 1989, petitioner
prepared (1) an analysis of the amounts deposited into (deposits
analysis) and (2) an analysis of the amounts disbursed from
(disbursements analysis) the joint checking and/or savings
accounts.
8 It is unclear from the record who prepared the Form 1120S that
Meadows filed for 1988.
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