T.C. Memo. 1997-316
UNITED STATES TAX COURT
FRANK PETAR CONTRACTING, INC., Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 21936-94. Filed July 9, 1997.
Frank Petar (an officer), for petitioner.
Carmino J. Santaniello, Jr., for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
BEGHE, Judge: Respondent determined a deficiency in
petitioner’s Federal income tax for the fiscal year ended May 31,
1990 (FYE 5/31/90) in the amount of $38,164. The sole issue for
decision is whether petitioner is entitled to deduct for the
taxable year in issue an accrued bonus awarded to its president
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