118 T.C. No. 1
UNITED STATES TAX COURT
CHARLES C. ALLEN, III AND BARBARA N. ALLEN,
ET AL.,1 Petitioners v. COMMISSIONER OF
INTERNAL REVENUE, Respondent
Docket Nos. 1287-00, 1288-00, Filed January 4, 2002.
1289-00, 1290-00,
1291-00, 1292-00,
1293-00, 1618-00.
Ps are the shareholders of F, a subch. S
corporation. During its 1994 and 1995 taxable years,
F incurred wages that qualified for the targeted jobs
credit (TJC) under secs. 38 and 51, I.R.C. F claimed
TJCs of $456,264 and $259,434 for the respective years
and reported to Ps their proportionate shares of the
credits. F reduced its deduction of wages by the
1 Cases of the following petitioners are consolidated
herewith: John R. Allen and Estate of Sally F. Allen, docket No.
1288-00; John R. Allen, Jr., and Susan S. Allen, docket No.
1289-00; John R. and Judith M. Allen, docket No. 1290-00; Charles
C. Allen, Jr., docket No. 1291-00; Warren L. Allen, docket No.
1292-00; Warren L. Allen, Jr., docket No. 1293-00; and Amantha S.
Allen, docket No. 1618-00.
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