- 12 -
on their 1992 and 1993 Forms 1040, U.S. Individual Income Tax
Return, respectively.
B. Withdrawal of Corporate Funds for Distribution to
Friends and Family
During each of the taxable years 1989 through 1993, CFC
maintained an account in its corporate records that operated as a
shareholder loan account for the Cordeses (account No. 312).
Account No. 312 tracked amounts transferred between CFC and the
Cordeses.
Mr. Cordes withdrew funds from CFC during each of the
taxable years at issue; the withdrawn funds were charged to
account No. 312 and were distributed as follows:
Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 NextLast modified: May 25, 2011