- 3 - Hickman3 and petitioner Janice C. Hickman, who divorced sometime after the years at issue, lived in Oklahoma City and Edmond, Oklahoma, respectively. Petitioners timely filed a joint Federal income tax return (return) for each of the years 1991, 1992, and 1993. During the years at issue, petitioner, an orthodontist, was the sole shareholder of F.E. Hickman, DDS Orthodontics, Inc. (Hickman corporation). During those years, petitioner, who also owned substantial interests in banks in and around the Oklahoma City area, was (1) the director and the chairman of the board of directors of Midwest National Bank (Midwest Bank), (2) a director of The National Bank of Harrah (National Bank of Harrah), Harrah National Bancshares, Inc. (Harrah Bancshares), and Midwest National Bancshares, Inc. (Midwest Bancshares), and (3) the director and chairman of the board of directors of Nichols Hills Bank and Trust. As such, petitioner was aware of the financial and business circumstances of those organizations. The Hickman corporation maintained the F.E. Hickman, DDS, Orthodontics, Inc., Retirement Plan and the Hickman corporation profit-sharing plan until they were terminated on December 31, 1991, and January 31, 1992, respectively. 3 Hereinafter, references to petitioner in the singular are to petitioner French E. Hickman.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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