Wade H. Griffin, III - Page 1
















                                  T.C. Memo. 2001-5                                   


                               UNITED STATES TAX COURT                                


                         WADE H. GRIFFIN, III, Petitioner v.                          
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 12900-98.                  Filed January 9, 2001.           


               William E. Frantz, Brenda G. Bates, and Donald P. Edwards              
          (specially recognized), for petitioner.                                     
               David R. Mackusick and Gwendolyn C. Walker, for respondent.            


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               GERBER, Judge:  Respondent, for petitioner’s 1994 taxable              
          year, determined a $1,443,439 income tax deficiency and an                  
          accuracy-related penalty under section 6662(a),1 in the amount of           

               1  Unless otherwise indicated, section references are to the           
          Internal Revenue Code in effect for the taxable year under                  
                                                             (continued...)           





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