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41. 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…
42. T.C. Memo. 2023-140 — Kunjlata J. Jadhav & Jalandar Y. Jadhav v. Commissioner
    IRCCourt RulingsNov 21, 2023
    …ncome and losses flow through to its shareholders, who then pay income tax. See § 1363(b). Sec tion 1366(a)(1) provides that an S corporation shareholder determines his or her tax liability by taking into account his or her pro rata share of the S corporation ’ s income, losses, deductions, and credits for the S corpor…
43. T.C. Memo. 1997-147 — David E. & Gladys A. Christie v. Commissioner
    IRCCourt RulingsMar 20, 1997
    …orate tax, sec. 1371(a), but pass through to be taxed on the individual shareholders' returns, sec. 1366, thereby eliminating the double taxation of distributions to the shareholders of C corporations. Moreover, petitioners have failed to show that Dura-Craft had a business purpose in making the payments. Furthermore, …
44. 162 T.C. No. 7 — Mohamed K. Abdo & Fardowsa J. Farah v. Commissioner
    IRCCourt RulingsApr 2, 2024
    …or a redetermination of a deficiency.”); Munoz v. Commissioner, T.C. Memo. 2000-18, 79 T.C.M. (CCH) 1366, 136 7 (“Section 7508(a)(1)(C) serves to extend the normal 90- day . . . period within which a petition must generally be filed by disregarding the time when a member of the Armed Forces is present in a combat zone …
45. 116 T.C. No. 13 — Kenneth L. Nordtvedt v. Commissioner
    IRCCourt RulingsMar 13, 2001
    …e., defining income on the basis of the understanding of a lay person, not an economist. See id. at 1366. Under this doctrine, the taxpayers' gain must be measured on the basis of the nominal gain on the sale of property, not on the basis of. a gain reduced by an inflation factor, or the real gain in an economic sense.…
46. 162 T.C. No. 4 — Clair R. Couturier, Jr. v. Commissioner
    IRCCourt RulingsFeb 28, 2024related by meaning
    004 made an excess contribution of $25,132,892 to his individual retirement account (IRA). Section 4973(a) 1 imposes an excise tax “in an amount equal to 6 percent of the amount of the excess contributions” that a taxpayer makes to an IRA in any given year. This tax continues to apply for future years, until such time …
47. T.C. Summary Opinion 2002-2 — William J. Phillips, Jr. & Matrona A. Phillips v. Commissioner
    IRCCourt RulingsJan 14, 2002
    …Inc. Petitioners argue that they are entitled to a so-called pass-thru loss deduction under section 1366 for payment of a portion of petitioner-husband’s section 6672 liability. Petitioners’ theory is that a payment in 1997 of a portion of Dynatrex, Inc.’s employment tax liability would be deductible by
48. T.C. Memo. 2015-244 — Jeremiah J. O'Connor & Mary K. O'Connor v. Commissioner
    IRCCourt RulingsDec 16, 2015
    …dit, and such are passed through (i.e., taken into account by its shareholders). See secs. 1363(a), 1366(a). - 5 - [*5] The Advantage Plan The Advantage Plan purported to be a "10-or-more-employer" welfare benefit plan under section 419A(f)(6) providing death benefits to selected employees of an employer participating …
49. 144 T.C. No. 9 — Ralim S. El v. Commissioner
    IRCCourt RulingsMar 12, 2015related by meaning
    nd.8 SSeveral recent cases cite Bunney v. Commissioner, 114 T.C. 259, 265 (2000) (citing Matthews v. Commissioner, 92 T.C. 351, 361-362 (1989), aff'd, 907 F.2d 1173 (D.C. Cir. 1990)), where we held that the taxpayer "has the burden of proving his entitlement to any of * * * [the sec. 72(t)(2)(A)] exceptions." Sg g, Hyd…
50. T.C. Memo. 2017-69 — Larry E. Austin & Belinda Austin v. Commissioner
    IRCCourt RulingsApr 24, 2017
    …998). After adding $45,714,868 to basis and making all other basis adjustments required by sections 1366-1368, each petitioner had an adjusted basis in his New UMLIC S-Corp. shares well in excess of $17.5 million. The $17.5 million dividend paid to each petitioner and his grantor trust was thus nontaxable. V. Penalties…
51. 29 C.F.R. § 4903.2(b)(4) — What do these regulations cover?
    PBGCRegulationsJan 1, 2017related by meaning
    (b)(4) (4) Nothing in this part precludes the use of other statutory or regulatory authority to collect or dispose of any debt. See, for example, 5 U.S.C. 5705, Advancements and Deductions, which authorizes PBGC to recover travel advances by offset of up to 100 percent of a Federal employee's accrued pay. See, also, 5 …
52. T.C. Memo. 2022-3 — John M. Larson v. Commissioner
    IRCCourt RulingsFeb 2, 2022
    …ing into account a pro rata share of the S corporation’s income, losses, deductions, and credits. § 1366(a)(1) . When qualified ESOPs meet the section 401(a) requirements, their related trusts are generally exempt from income taxation pursuant to section 501(a). Effective January 1, 1998, Congress provided that certain…
53. 78 FR 218 — Shared Responsibility for Employers Regarding Health Coverage
    IRCProposed Rules (FR)Proposed Jan 2, 2013related by meaning
    . See proposed § 301.7701-2(c)(2)(v)(A)( 5). These rules would also apply to a qualified subchapter S subsidiary. See proposed § 1.1361-4(a)(8)(i)(E). Any assessable payment under section 4980H is payable upon notice and demand and is assessed and collected in the same manner as an assessable penalty under subchapter B…
54. 89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02
    ERISAFinal Rules (FR)Apr 25, 2024related by meaning
    ns were made negligently or intentionally.”) (emphasis added); see Mathews v. Chevron Corp., 362 F.3d 1172, 1183 (9th Cir. 2004). Back to Citation 37.  84 FR 33348, note 303. The Department observes that this requirement is also consistent with, for example, the requirement under section 206 of the Advisers Act, which …
55. I.R.C. § 6662(d)(2)(B)(ii)(I) — Imposition of accuracy-related penalty on underpayments
    IRCCode / StatuteJan 5, 2023related by meaning
    (d)(2)(B)(ii)(I) (I) the relevant facts affecting the item's tax treatment are adequately disclosed in the return or in a statement attached to the return, and (d)(2)(B)(ii)(II) (II) there is a reasonable basis for the tax treatment of such item by the taxpayer. (d)(2)(C) (C) Reduction not to apply to tax shelters (d)(…
56. ERISA § 4066 (29 U.S.C. § 1366) — Annual notification to substantial employers
    PBGCCode / StatuteJan 4, 1995
    The plan administrator of each single-employer plan which has at least two contributing sponsors at least two of whom are not under common control shall notify, within 6 months after the close of each plan year, any contributing sponsor of the plan who is described in section 1301(a)(2) of this title that such contribu…
57. T.C. Memo. 2014-27 — Boyd J. Black & Janice C. Black v. Commissioner
    IRCCourt RulingsFeb 12, 2014related by meaning
    includible in income under section 61(a)(12) and subject to tax. However, this issue is moot because petitioners' debts were not discharged but rather extinguished, and thus petitioners' income was not from discharge of indebtedness. III. Accuracy-Related Penalty Section 6662(a) imposes an accuracy-related penalty equa…
58. T.D. 9694 — These final regulations provide guidance on the application of § 162(m)(6). Section 162(m)(6) limits the allowable deduction for remuneration for services prov…
    IRCTreasury DecisionsOct 6, 2014related by meaning
    initial taxable year (and not DDR) because the deduction for the payments is allowable in the initial taxable year, and not a subsequent taxable year. Except as otherwise provided in paragraph (i) of this section (regarding transition rules for certain DDR attributable to services performed in taxable years beginning b…
59. T.C. Memo. 2018-138 — Larry W. Macdonald v. Commissioner
    IRCCourt RulingsAug 27, 2018related by meaning
    0 and $5,379, respectively; and (4) liable for an accuracy-related penalty under section 6662(a) for 2013 and 2014 of $3,267 and $7,364, respectively. The examining agent's immediate supervisor approved the section 6662(a) penalties in writing by making an entry in the Correspondence Examination Automation Case Support…
60. 89 FR 102735 — Disclosure of Records
    IRCFinal Rules (FR)Dec 18, 2024
    …nds by asking “the government to disclose the bond serial numbers as a matter of discovery.” Id. at 1366. The Court of Appeals denied the States' petitions for rehearing en banc, and the Supreme Court denied the States' petitions for writs of certiorari. LaTurner v. United States, 141 S. Ct. 239 (2020); Lea v. United S…