T.C. Memo. 2024-24 — James Elbert Aldridge, Jr. & Shirley Lorraine Aldridge v. Commissioner IRCCourt RulingsFeb 21, 2024
…imply a tax-avoidance device. Zmuda
v. Commissioner, 79 T.C. 714, 719 – 20 (1982), aff’d , 731 F.2d 1417 (9th
Cir. 1984); Markosian v. Commissioner, 73 T.C. 1235, 1244 – 45 (1980);
Saccato v. Commissioner, T.C. Memo. 2023-96, at *8. Whether a trust
IRCCourt RulingsFeb 4, 1998
…
so might suggest that these arguments have some colorable merit."
Crain v. Commissioner
, 737 F.2d 1417, 1417 (5th Cir. 1984).
Section 61(a) defines an individual's gross income as "all
income from whatever source derived". Respondent determined that
compensation for services, gains derived from dealings in
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4
At…
IRCCourt RulingsFeb 18, 1997related by meaning
l section references are
to the Internal Revenue Code in effect for 1991, the taxable year
in issue. All Rule references are to the Tax Court Rules of Practice and Procedure.
2
Sec. 4980A imposes a 15-percent excise tax on excess
distributions from qualified retirement plans. This tax is
included within ch. 43 of the I…
IRCCourt RulingsOct 31, 2007
…o might suggest that these arguments have
some colorable merit . Crain v . Commissioner , 737 F .2d 1417,
1417-1418 (5th Cir . 1984) .
II . Does the 10-Percent Additional Tax Apply To the
Distribution ?
We next consider whether petitioner is liable for the 10percent additional tax on the early distribution from his
ret…
IRCCourt RulingsOct 10, 1979related by meaning
r Rule 155.
Statutory references are to the Internal Revenue Code of 1954, as amended and effective in the years in issue, unless otherwise indicated. Petitioner’s constitutional claim was originally presented in the form of a motion for summary judgment, but with leave of the Court, the motion was withdrawn by petitio…
IRCCourt RulingsMar 31, 1997
…duction, no deduction is allowable. Zmuda v. Commissioner
, 79
T.C. 714, 727 (1982), affd. 731 F.2d 1417 (9th Cir. 1984).
In this instance, petitioner readily admits that A Atlantic
IRCCourt RulingsJul 30, 2007
… suggest that these
arguments have some colorable merit ." Crain v . Commissioner ,
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737 F .2d 1417, 1417 (5th Cir . 1984) ; see Stelly v . Commissioner ,
761 F .2d 1113, 1115 (5th Cir . 1985) ("It is clear beyond
peradventure that the income tax on wages is constitutional") ;
United States v . Romero , 640 F .2d …
T.D. 9749 — This regulation addresses the composition of the Joint Board for the Enrollment of Actuaries (the “Joint Board”). The Joint Board establishes standards and qua… IRCTreasury DecisionsMar 7, 2016related by meaning
ses of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for March 2016.
Rev. Proc. 2016–16 Rev. Proc. 2016–16 General Rules and Specifications for Substitute Form 941, Schedule B (Form 941), Schedule D (Form 941), and Schedule R (Form 941) This procedure provides general rules a…
T.D. 9275 — Final regulations under section 410 of the Code implement a statutory directive of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) to am… IRCTreasury DecisionsAug 28, 2006related by meaning
INCOME TAX
Rev. Rul. 2006-41 Rev. Rul. 2006-41
LIFO; price indexes; department stores. The June 2006 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, first-out inventory methods for valuing inventories for tax years ended on, or with referenc…
IRCCourt RulingsJul 25, 2005related by meaning
settlement
agreement is not a qualified domestic order, and Mr. Ahmad is not
an alternate payee, the exception in section 72(t)(2)(C) is
inapplicable. In light of the foregoing, the Court holds that petitioners
are liable for the 10-percent additional tax imposed under
section 72(t).
Reviewed and adopted as the report …
IRCCourt RulingsAug 1, 2012related by meaning
4, 2011, but was continued on petitioners' motion so that the parties
could determine the amounts of nondeductible contributions to the IRAs. The case was continued to March 23, 2011, but was thereafter continued again on
petitioners' motion so that they could take a trip out of the country.
By notice served May 9, 201…
IRCCourt RulingsMar 20, 1997
…form it has chosen for a
transaction is circumscribed. Illinois Power Co. v.
Commissioner
, 87 T.C. 1417, 1430 (1986); Bolger v. Commissioner
,
59 T.C. 760, 767 n.4 (1973). The Supreme Court has observed
repeatedly that "while a taxpayer is free to organize his affairs
as he chooses, nevertheless, once having done so, …
IRCCourt RulingsSep 25, 2019related by meaning
section 6651(a)(1) and (2), respectively.¹ Respondent has moved for
summary adjudication in his favor on all issues (motion), and petitioner objects. Summary judgment is appropriate "if the pleadings, answers to
interrogatories, depositions, admissions, and any other acceptable materials,
together with the affidavits …
IRCCourt RulingsAug 30, 2006related by meaning
or was the filing fee paid. See Rule 173(a). The
Court ordered petitioners to file a proper amended petition and
pay the filing fee by May 2, 2003.
13 Petitioners timely filed an amended petition with the Court
and paid the filing fee. In the amended petition, petitioners
disputed deficiencies determined for taxable ye…
IRCCourt RulingsJul 31, 2000related by meaning
red all of petitioners’
arguments for contrary holdings; those arguments not discussed
herein are irrelevant or without merit. We also have considered respondent’s arguments as to his determinations to the extent
necessary to reject or sustain each determination . We also have
considered all of respondent’s arguments a…
IRCCourt RulingsMay 19, 2011
…nts
7 -
because to do so'might suggest that they have merit. Accord
Crain v. Commissioner, 737 F.2d 1417 (5th Cir. 1984).
II. Unreported Income
As a general rule, the Commissioner's determinations in a
notice of deficiency are presumed correct, and the taxpayer bears
the burden of proving these determinations erroneous…
IRCCourt RulingsOct 9, 1997related by meaning
einafter referred to
as the instant case). The instant case is before the Court on
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1
All Code and section references are to the Internal Revenue Code in effect for the year at issue. All Rule references are to
the Tax Court Rules of Practice and Procedure.
the parties' cross-motions for partial summary judgment. …
IRCCourt RulingsJun 18, 1999related by meaning
1402(a). We therefore simply sustain
respondent's determination as respondent did not assert an
increased deficiency in this regard. See sec. 6214(a). used for retirement purposes, a 10 percent penalty is generally
imposed on IRA distributions made before the taxpayer reaches age
59-1/2. See sec. 72(t). In that regard,…
IRCCourt RulingsSep 23, 2014related by meaning
contributions would have been taxable. CSRS does not provide for the
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acceptance of rollovers. Because the payment was not accepted as a pretax contribution, it is taxable. See Montgomery, 18 F.3d at 500. Therefore, section
408(d)(3) does not apply and the $17,832 petitioner withdrew from his Fidelity
IRA must b…
IRCCourt RulingsJul 8, 1980related by meaning
minations should also be within our jurisdiction. Regardless of the logic of petitioners’ position, we are constrained to deny their motion to vacate. The United States Tax Court has limited jurisdiction. See sec. 7442. Under this jurisdictional umbrella fall generally income, estate, gift, and miscellaneous excise tax…