IRCCourt RulingsFeb 6, 2024related by meaning
Tax Court Rules of Practice and Procedure. Except where
otherwise indicated, all monetary amounts are rounded to the nearest dollar.
Served 02/06/24
2 [* 2 ] failure to file and failure to pay addition s to tax for petitioner’ s 2017
tax year .
2
T he issue s for decision are whether (1) petitioner is liable for tax
wi…
IRCCourt RulingsJan 27, 1998related by meaning
e excise tax notwithstanding that
they may have acted innocently or in good faith. Rutland v.
Commissioner
, 89 T.C. 1137, 1146 (1987). In signing the Agreement and Assignment of Accounts Receivable as a corporate
officer, petitioner, along with Mr. Cohen, implemented the
transfer of accounts receivable to the Plan. In…
IRCCourt RulingsMay 30, 1984related by meaning
ents of section 2039(c)(3).
Due to concessions and in order to reflect petitioner’s claim for an overpayment,
Decision will be entered under Rule 155. Unless otherwise indicated, all section references are to the Internal Revenue Code of 1954 as amended and in effect at the date of death, and all references to Rules ar…
IRCCourt RulingsJan 5, 2017related by meaning
n 6662(a) and (b)(1) and (2), a taxpayer may be liable for a penalty of20%
5 Over petitioner's objection respondent introduced a literal transcript of account for petitioner's 2010 tax year. The literal transcript contains no reference
to any SFRs. Even if it did, the literal transcript does not establish that the
requ…
IRCCourt RulingsMar 5, 2018related by meaning
sec. 924 to include gross
receipts from export sales or commission transactions.
24The amount computed under sec. 925(a)(1) could not exceed twice the amount computed under sec. 925(a)(2)--i.e., 46% of the combined taxable income
of the FSC and its related supplier from sale 1 and sale 2. Sec. 925(d).
25The FSC regulat…
IRCCourt RulingsSep 30, 2003related by meaning
ance with its substance.”
Neonatology Associates, P.A. v. Commissioner
, 299 F.3d 221, 230
n.12 (3d Cir. 2002), affg. 115 T.C. 43 (2000). However, the Supreme Court “has observed repeatedly that, while a taxpayer is
free to organize his affairs as he chooses, nevertheless, once
having done so, he must accept the tax co…
86 FR 55756 — Requirements Related to Surprise Billing; Part II IRCProposed Rules (FR)Proposed Oct 7, 2021related by meaning
ted page 55757)
in this document. The preamble to the temporary regulations contains the agency's rationale and provides a regulatory impact analysis. Drafting Information
The principal author of this notice of proposed rulemaking is Kari DiCecco, Office of Associate Chief Counsel (Employee Benefits, Exempt Organizatio…
85 FR 71016 — Additional Policy and Regulatory Revisions in Response to the COVID-19 Public Health Emergency IRCProposed Rules (FR)Proposed Nov 6, 2020related by meaning
ulations. The preamble to the temporary regulations explains the temporary regulations and provides a regulatory impact analysis.
Drafting Information The principal author of this notice of proposed rulemaking is Dara Alderman, Office of the Chief Counsel (Employee Benefits, Exempt Organizations and Employment Taxes). …
83 FR 57536 — Religious Exemptions and Accommodations for Coverage of Certain Preventive Services Under the Affordable Care Act IRCFinal Rules (FR)Nov 15, 2018related by meaning
18071, 18082, 26 U.S.C. 36B, and 31 U.S.C. 9701); and Public Law 103-141, 107 Stat. 1488 (42 U.S.C. 2000bb-2000bb-4).
List of Subjects
26 CFR Part 54 Excise taxes
Health care
Health insurance
Pensions
Reporting and recordkeeping requirements
29 CFR Part 2590
Continuation coverage
Disclosure
Employee benefit plans
Grou…
IRCCourt RulingsNov 26, 2013related by meaning
gross income. Petitioner
disputes respondent's determination.
Discussion
As a general rule, the Commissioner's determination of a taxpayer's liability in a notice of deficiency is presumed correct, and the taxpayer bears the burden of
proving that the determination is incorrect. Rule 142(a); Welch v. Helvering, 290
U.S…
IRCCourt RulingsMar 7, 2000related by meaning
994 and 1995 tax
liabilities.
We grant respondent's motion for a penalty under section
6673. Under section 6673, this Court may award a penalty to the United States of up to $25,000 when the proceeding has been
instituted or maintained by the taxpayer primarily for delay or
if the taxpayer's position in such proceeding…
IRCCourt RulingsJun 28, 2017related by meaning
he Commissioner bears the burden of production with respect to penalties.
Sec. 7491(c); Higbee v. Commissioner, 116 T.C. 438, 446-447 (2001). Once the burden of production is met, the taxpayer must come forward with evidence
sufficient to show that the penalty does not apply. Higbee v. Commissioner, 116
T.C. at 447. Pe…
IRCCourt RulingsJun 14, 2012related by meaning
ed work in her capacity as Yolo's employee or officer. Consistent with
our conclusion above, we sustain respondent's disallowance of these deductiòns. IV. Additions to Tax and Penalties
A. s Burden of Proof
Respondent bears the burden of production with regard to the section
6651(a)(1) and (2) additions to tax and the …
IRCCourt RulingsFeb 9, 1998related by meaning
this case of most of the
enumerated badges of fraud. Accordingly, petitioner is liable
for section 6651(f) additions to tax for 1990, 1991, and 1992. Section 6654(a) imposes an addition to tax for failure to
make timely estimated income tax payments. Where prepayments of
tax do not equal the percentage of total liabil…
Notice 2024-35 — This notice provides relief with respect to certain required minimum distributions (RMDs) that are not made in 2024. This relief was provided with respect to c… IRCNoticesMay 6, 2024
… and Kathleen Hannick (2020). “Fixed Indemnity Coverage is a Problematic Form of “Junk” Insurance,” USC-Brookings Schaeffer Initiative for Health Policy, available at: https://www.brookings.edu/blog/usc-brookings-schaeffer-on-health-policy/2020/08/04/fixed-indemnity-health-coverage-is-a-problematic-form-of-junk-insuran…
IRCCourt RulingsNov 15, 2004related by meaning
affd. 93 Fed. Appx.
473 (3d Cir. 2004).
Sec. 7491(b), relating to statistical information on
unrelated taxpayers, does not apply to the instant case. Sec. 7491(c) imposes on respondent the burden of production
with respect to the additions to tax under sec. 6651(a)(1). The
parties' stipulation that--"3. Petitioner did…
IRCCourt RulingsAug 16, 2005related by meaning
ted
penalty pursuant to section 6662(a) with respect to the
underpayment attributable to the unreported 10-percent additional
tax under section 72(t). Section 6662(a) imposes a 20-percent penalty on the portion
of any underpayment attributable to any of various factors, one
of which is negligence or disregard of rules …
IRCFinal Rules (FR)Nov 8, 2011related by meaning
ge, paragraph (ii) of
Example 1
of § 20.2036-1(c)(1)(ii) has been moved and renumbered as
Example 8
of § 20.2036-1(c)(2)(iv) in the final regulations. Also in response to a comment, the manner of computing the amount to be included in the decedent's gross estate has been clarified at the end of § 20.2036-1(c)(2)(i).
Sp…
IRCCourt RulingsFeb 18, 1998related by meaning
statutory provisions and the
legislative histories of those provisions, we hold that
petitioner's use of the distributions from his Keogh and IRA's to purchase stock which he then contributed to the Smith Barney IRA
does not constitute a tax-free rollover contribution under
section 402(c) or 408(d)(3), respectively.
3
…
IRCCourt RulingsApr 20, 2017related by meaning
ish the tax shown on the taxpayer's return for the preceding year or
demonstrate that the taxpayer filed no such return. See Wheeler, 127 T.C. at 212; Schlussel v. Commissioner, T.C. Memo. 2013-185.
Respondent met his burden of production by including with his summary
judgment motion a redacted Form 4340 showing that p…