72 T.C. 461 — Citrus Orthopedic Medical Group, Inc. v. Commissioner IRCCourt RulingsJun 11, 1979related by meaning
n 61 and Section 83 routes, nor need we decide whether Section 83 applies only to stock plans. Cf. Sakol v. Commissioner, 67 T.C. 986, 989-991 (1977). We think it is plain that the transfers to the trust in the instant case, if they were completed ones, were additional compensation to McElwee and Smith and the amounts …
IRCCourt RulingsJul 25, 1974related by meaning
ew principal place of work.
Prior to Jan. 1, 1970, self-employed persons were not entitled to the benefits of sec. 217.
SEC. 6653. FAILURE TO PAY TAX. (a) Negligence ok Intentional Disregard of Roles and Regulations With Respect to Income or Gift Taxes. — If any part of any underpayment (as defined in subsection (c) (1…
IRCCourt RulingsAug 30, 1993related by meaning
least 95 percent of the active participants in the terminated plan who remain as employees of the employer after the termination. Sec. 4980(d)(2)(A)↩. 5. See Estate of Young v. Commissioner, 81 T.C. 879↩ (1983) (holding this Court generally lacks jurisdiction over the sec. 6651(a)(2) addition to tax for failure to pay …
36 T.C. 491 — Hiawatha Home Builders, Inc. v. Commissioner IRCCourt RulingsJun 9, 1961related by meaning
ter refer only to section 1551, the provisions of which are as follows :
SEC. 1551. ¡DISALLOWANCE OF SURTAX EXEMPTION AND ACCUMULATED EARNINGS CREDIT. If any corporation transfers, on or after January 1, 1951, all or part of its property (other than money) to another corporation which was created for the purpose of acq…
IRCCourt RulingsOct 13, 1983related by meaning
under section 501(c)(9) for organizations providing for the payment of pension benefits. For the following reasons, we reject petitioner’s contention. The Commissioner has broad authority to promulgate all necessary regulations. Sec. 7805(a); United States v. Correll, 389 U.S. 299, 306-307 (1967). The general rule rega…
IRCCourt RulingsDec 19, 1995related by meaning
-2503 at 95-2504, 95-1 USTC par. 50,280 (D.
Md. 1995); see also Conway v. United States
, supra
; cf. Wheeler
v. Commissioner
, T.C. Memo. 1993-561.
6 We observe that the
definition of "qualified total distribution" set forth in section
402(a)(5)(E)(i)(II) incorporates the definition of "lump sum
distribution" set fort…
IRCCourt RulingsJan 20, 1983related by meaning
ying that the regulation might have utilized different language to achieve its stated purpose.
II. Validity of Section 1.415-5(c)(1), Income Tax Regs. Respondent asserts that section 1.415-5(c)(l), Income Tax Regs., is appropriate either as a "legislative” regulation specifically authorized by section 415(d)(1)(A) or a…
IRCCourt RulingsFeb 6, 1992related by meaning
ension, profit-sharing, or annuity plan, or other plan deferring the receipt of compensation, subsection (a) shall apply as if there were such a plan. “Except where such authority is expressly given by this title to any person other than an officer or employee of the Treasury Department, the Secretary shall prescribe a…
IRCCourt RulingsSep 30, 1991related by meaning
beneficial interest of such trust or estate, is owned directly or indirectly, or held by persons described in subparagraph (A), (B), (C), (D), or (E); (H) an officer, director (or an individual having powers or responsibilities similar to those of officers or directors), a 10 percent or more shareholder, or a highly co…
IRCCourt RulingsJul 24, 1991related by meaning
and sec. 1011A(b)(l) of the Technical and Miscellaneous Revenue Act of 1988 (Pub. L. 100-647, 102 Stat. 3342, 3472), do not affect the instant case.] Sec. 1.72-8. Effect of certain employer contributions with respect to premiums or other consideration paid or contributed by an employee, (a) Contributions in the nature…
IRCCourt RulingsAug 26, 1963related by meaning
consequences by reliance upon section 29.23(p)-1 of Regulations 111, as amended in 1948 by T.D. 5666, 1948-2 C.B. 35, which reads in part as follows: Se'ction 23 (p) does not apply to a plan which does not defer the receipt of compensation. Neither does section 23 (p) apply to deductions for contributions under a plan…
IRCCourt RulingsAug 8, 2005related by meaning
as provided in paragraphs (3)
and (4), paragraph (1) shall not apply to any of the
following distributions:
(A) In general.--Distributions which are-- (i) made on or after the date on which
the employee attains age 59 1/2,
(ii) made to a beneficiary (or to the
estate of the employee) on or after the death
(continued...…
IRCCourt RulingsFeb 25, 2014related by meaning
19(a). The deduction may not exceed the lesser of: (1) the deductible
amount, which was generally $5,000 for the 2008 tax year; or (2) an amount equal to the compensation includible in the taxpayer's gross income for such taxable
year. Sec. 219(b)(1), (5)(A).
However, the deductible amount allowed under section 219(a) …
IRCCourt RulingsMar 16, 2015related by meaning
to the Commissioner with respect to the additional tax under section
72(t) because that additional tax is a tax and not a penalty, addition to tax, or additional amount. El v. Commissioner, 144 T.C. (Mar. 12, 2015)
_ 9 _
[*9] tioner's qualified retirement account, but Wachovia Bank, then a unit of
Wells Fargo, with whi…
IRCCourt RulingsApr 25, 1972related by meaning
wing requirements of this subsection are met by the trust and by the plan of which such trust is a part:
*******
(5) Tho plan does not permit—
******* (C) if a distribution under the plan is made to any employee and if any portion of such distribution is an amount described in section 72(m) (5) (A) (i), contributions t…
IRCCourt RulingsJun 18, 1997related by meaning
r personal injuries or
sickness to the extent such amounts are (A) attributable to
- 11 -
7
Former sec. 105(d) provided a limited exclusion from gross income for amounts received in lieu of wages prior to attaining
age 65 by completely disabled persons retired on disability.
Sec. 105(d) was repealed by sec. 122(b) of t…
IRCCourt RulingsDec 17, 1979related by meaning
umulated*28 deposits or contributions to the credit of any depositor that shall have accrued prior to the first day of the then current calendar year. B. Anything in this or any other section of Equifund C to the contrary notwithstanding, in the case of any member or depositor covered by this plan, the Company reserves…
IRCCourt RulingsOct 2, 1974related by meaning
may draw upon it at any time, or so that he could have drawn upon it during the taxable year if notice of intention to withdraw had been given. * * * The cases arising under sec. 267, cited by petitioners, include Fetzer Refrigerator Co. v. United States, 437 F.2d 577 (C.A. 6, 1971); Hyplains Dressed Beef, Inc., 56 T.…
IRCCourt RulingsNov 14, 1996related by meaning
rst articulated.
3
As a
consequence, we set forth that analysis in order to bring into
focus the precise question that we must decide, namely, whether the amounts of the accrued vacation and severance pay were "paid"
when the letter of credit was purchased on March 13, 1992.
Statutory Framework
The parties have stipula…
IRCCourt RulingsJul 24, 1984related by meaning
loyment is for not more than 20 hours in any one week, and employees whose customary employment is for not more than 5 months in any calendar year, or (B) such employees as qualify under a classification set up by the employer and found by the Secretary or his delegate not to be discriminatory in favor of employees who…