Rev. Proc. 2005-3 — Areas in which rulings will not be issued (domestic areas). This procedure provides a revised list of those provisions of the Code under the jurisdiction of th… IRCRevenue ProceduresJan 3, 2005
… basis the estimated cost of certain common improvements in a real estate development).
.05 Section 704(c).—Contributed Property.—Requests from Qualified Master Feeder Structures, as described in section 4.02 of Rev. Proc. 2001-36, 2001-1 C.B. 1326, for permission to aggregate built-in gains and losses from contributed…
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…
IRCProposed Rules (FR)Proposed May 13, 2026
…n Hours:
541 (270 for Treasury and 270 for DOL).
Estimated Total Annual Burden Cost:
$893,408 ($446,704 for Treasury and $446,704 for DOL).
2. Paperwork Reduction Act—Department of HHS
IRCCourt RulingsMay 29, 2002related by meaning
is Court.
Section 72(t) provides that:
(1) * * * If any taxpayer receives any amount from a
qualified retirement plan (as defined in section 4974(c)), the taxpayer's tax * * * shall be increased by an amount
equal to 10 percent of the portion of such amount which is
includible in gross income.
Section 72(t)(2) provides…
IRCCourt RulingsJun 24, 2003related by meaning
tract unless such amounts are
specifically excluded from gross income under other provisions of
chapter 1 of the Code. The burden is on petitioners to demonstrate that the payments in question fall into a specific
statutory exclusion. See Commissioner v. Glenshaw Glass Co.
, 348
U.S. at 429-431.
Under section 72(t), a …
IRCCourt RulingsDec 11, 2003related by meaning
foregoing statutory
- 19 -
requirements were satisfied for the audit year. Therefore, we
reject petitioner’s claim, raised at trial, to deductions for three dependency exemptions.
VI. Respondent’s Section 72(t) Determination
Section 72(t) provides, in pertinent part, as follows:
SEC. 72(t). 10-Percent Additional Tax on…
IRCCourt RulingsSep 24, 2007related by meaning
g the forms of income within
the definition of section 61(a) . Sec . 61(a)(11) . Under section
402(a), a pension distribution is normally taxed to the distributee .6 Pursuant to section 402 (e)'(1) (A) , the spouse or
former spouse is treated as the distributee with respect to
distributions allocated to that spouse pur…
IRCCourt RulingsJun 11, 1996related by meaning
72(t)(2)(A) provides that
the 10-percent additional tax does not apply to distributions
that are: (1) Made on or after the date on which the taxpayer attains age 59-1/2; (2) made to a beneficiary (or to the estate
of the taxpayer) on or after the death of the taxpayer; (3)
attributable to the taxpayer's being disabled…
IRCCourt RulingsFeb 18, 1997related by meaning
ioner's retirement distribution's
being taxed twice. We think petitioners' contention is
meritorious. Here we take note of the long-standing principle that double taxation is to be avoided unless expressly intended
by Congress. E.g., Maass v. Higgins
, 312 U.S. 443, 449 (1941);
United States v. Supplee-Biddle Hardware …
IRCCourt RulingsOct 3, 1995related by meaning
distribution qualified for tax-free
rollover treatment under section 402(a)(5); Brown v.
Commissioner
, T.C. Memo. 1995-93 (same); cf. supra
with T.C. Memo. 1993-561.
- 13 -
10
It would appear that such stipulation would also affect
the amount of the excise tax under sec. 4980A. We leave this
matter to the parties as p…
IRCCourt RulingsFeb 22, 1989related by meaning
n from sec. 457 altogether.
We note the irony that, on answering brief in another issue in the instant case, petitioners make the following statement: It is improper to resort to legislative history where the statute is clear. U.S. v. Prudential Ins. Co. of America, 461 F.2d 280 (5th Cir. 1972); U.S. v. Marett, 325 F.2…
Notice 2009-8 — This notice provides interim guidance on recently enacted section 457A of the Code which became effective January 1, 2009. Section 457A generally provides that… IRCNoticesJan 26, 2009
…e of the partnership has the same meaning as for purposes of § 702(c) (see also §§ 1.702-1(c) and 1.704-1(b)(1)(vii)). A partnership is a U.S. relevant partnership if it either (i) is required to file a return of partnership income under § 6031 or (ii) determines the distributive share of income of any partner in accor…
IRCCourt RulingsJul 22, 1980related by meaning
ave specified, petitioner’s arrangements were vague and did not provide the employees with nonforfeitable rights to particular portions of the moneys. In reliance on the above, it follows that section 404(b) is inapplicable to petitioner, and accordingly, petitioner cannot deduct the $16,123 “contribution” pursuant to …
IRCCourt RulingsDec 30, 1998related by meaning
of these funds since they
were originally invested in the Fortis annuity contract in 1992.
We conclude that petitioner's direct exchange of a portion of her Fortis annuity contract for a new Equitable annuity
contract qualifies under section 1035 and that no gain to
petitioner is to be recognized by reason of the exch…
IRCCourt RulingsMar 31, 2005related by meaning
e was entitled to the payments at issue here under community
- 14 -
10
Sec. 402(a) provides:
SEC. 402(a). Taxability of Beneficiary of Exempt Trust.-- Except as otherwise provided in this section, any
amount actually distributed to any distributee by any
employees’ trust described in section 401(a) which is
exempt from…
IRCCourt RulingsFeb 29, 2012related by meaning
statutory notice of deficiency was issued more than 6 years after
petitioner filed its Form 5530. The statute of,limitations is an affirmative defense that must be specifically pleaded; Petitioner did not raise the statute of;limitations
as an affirmative defense in its pleadings for the taxable year at issue.
Accordin…
IRCRegulationsJan 19, 2024
… of this section (Example 1), taking the probability of death only after age 65 into account, is 10.704. To satisfy the requirement of section 417(e)(3) and this paragraph (d), the single-sum distribution received by Q with respect to the employee-provided portion of the accrued benefit may not be less than $64,224 (th…
IRCCourt RulingsJun 14, 1993related by meaning
nt of the taxable portion of the plan distribution, $47,264.44; references to “one-half of the distribution” are to 50 percent of that amount.
OPINION Respondent contends that petitioner must include all of the distribution in petitioners’ 1987 gross income. Petitioner argues that he is entitled to exclude one-half of …
IRCCourt RulingsJan 2, 2020related by meaning
relevant times, and all Rule references are to
the Tax Court Rules of Practice and Procedure. All monetary amounts are
rounded to the nearest dollar. 2Petitioners conceded that they were not entitled to exclude from gross
income rental income of $4,920 they received in 2007.
- 3 -
[*3] to deduct a net operating loss (…
IRCCourt RulingsMar 31, 1961related by meaning
ntract” as meaning the entire contract, especially since Congress, when it wished to delineate the annuity feature of the contract, did so explicitly. Although admitting that the interpretation proposed by petitioner is not without merit, we hold that section 72(d) applies only when the entire consideration furnished b…