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rent was paid and allocated between the properties for the years
as follows:
Year ERG Payments to NPI Stanford Lowell
1988 $98,917 $67,067 $31,850
1989 83,699 56,749 26,950
1990 137,917 106,067 31,850
1993 146,400 112,560 33,840
1994 1168,360 129,444 38,296
1The amounts stated above are those listed in a joint
exhibit offered by the parties. However, it is clear that
$129,444 plus $38,296 does not equal $168,360, but instead
$167,740.
(j) Director’s Fees27
As detailed below, ERG paid purported “director’s fees”
during the years at issue.28 ERG did not file Forms 1099 with
respect to payment of any of the director’s fees.
(i) Elizabeth C. Benson
In 1989, ERG issued three $1,000 checks payable to
Elizabeth, which she deposited into the Bensons’ Wells Fargo bank
account. In 1990, ERG issued twelve $1,000 checks payable to
Elizabeth, of which she deposited seven into the Bensons’ Wells
Fargo bank account and five into Franklin account No. 11100025476
(Franklin account). In 1993, ERG issued twelve $1,000 checks
27Petitioners concede that amounts that ERG paid should have
been included in the returns of the purported directors.
28Our categorization is based solely upon the stipulations
and characterizations made by the parties. With the exception of
two checks issued to Eric, the ERG checks issued do not indicate
their intended purpose.
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