IRCCourt RulingsDec 8, 1987related by meaning
n. The Commissioner determined that the individual petitioners were hable for excise taxes under section 4975(a) for each such prohibited transaction. The Commissioner also sent a notice of deficiency to MMR, in which he determined that the lease of the property to MMR by the plan was a prohibited transaction. In such …
91 FR 46602 — Electronic Disclosure by Group Health Plans Under ERISA ERISAProposed Rules (FR)Proposed Jul 23, 2026
…50
participants
Plans with 75
participants
Plans with 100
participants
Plan Premiums by Size *
$139,440
$348,600
$697,200
$1,045,800
$1,394,400
Cost per Plan
$2.30
$5.30
$10.30
$15.30
$20.30
Total
0.0016%
0.0015%
0.0015%
0.0015%
0.0015%
* Plan Premiums are obtained by average annual premiums per covered participant $13…
IRCCourt RulingsSep 18, 1996related by meaning
begin with section 4973.
Section 4973
Section 4973(a) imposes a 6-percent excise tax on excess
contributions to an IRA. As relevant herein, an "excess contribution" is the amount in excess of the amount allowable as
a deduction under section 219 (computed without regard to section
- 27 -
219(g)), exclusive of amounts p…
IRCCourt RulingsJan 2, 2020
…PCO, Inc. v.
Commissioner, 503 U.S. 79, 84 (1992); New Colonial Ice Co. v. Helvering, 292
U.S. 435, 440 (1934). This burden requires the taxpayer to demonstrate that the
claimed deductions are allowable pursuant to some statutory provision and to
substantiate the expenses giving rise to the claimed deductions by mainta…
IRCCourt RulingsJan 28, 2014
…race.
Deputy v. du Pont, 308 U.S. 488, 493 (1940); New Colonial Ice Co. v. Helvering,
292 U.S. 435, 440 (1934). Taxpayers must comply with specific requirements for
any deductions claimed. See INDOPCO, Inc. v. Commissioner, 503 U.S. 79, 84
(1992); New Colonial Ice Co. v. Helvering, 292 U.S. at 440. Taxpayers must also
…
IRCCourt RulingsFeb 7, 2013
…ductions and to establish the taxpayer's correct tax liability.
Higbee v. Commissioner, 116 T.C. at 440; see also sec. 6001. The taxpayer must
produce such records upon the Secretary's request. Sec. 7602(a); see also sec.
1.6001-1(e), Income Tax Regs. Adequate substantiation must establish the
amount and purpose of a c…
37 T.C. 7 — Barbourville Brick Co. v. Commissioner IRCCourt RulingsOct 9, 1961related by meaning
e distribution.
Although section 816 of the 1954 Code rather than section 115 of the 1939 Code is applicable here, the relevant language is identical. The dividend issue was raised expressly by respondent for the first time at the trial by the statement that “the amounts involved in this case are * * * a preferential o…
Rev. Rul. 2003-85 — Excise tax; terminating defined benefit plan; reversion. This ruling describes the treatment of a transfer from a terminating defined benefit plan to a defined… IRCRevenue RulingsAug 11, 2003related by meaning
e $40X that the employer receives is subject to the 20 percent excise tax under § 4980(a) and is includible in income under § 61.
DRAFTING INFORMATION The principal drafters of this revenue ruling are Steven Linder of the Employee Plans, Tax Exempt and Government Entities Division and Vernon Carter of the Office of the…
IRCCourt RulingsSep 17, 2009
… rather than nondeductible
personal expenses . New Colonial Ice Co . v . Helvering, 292 U .S .
435, 440 (1934) ; Welch v . Helvering, 290 U .S . 111, 113-114
(1933) ; see Rule 142(a) .
We are not required to accept , .testimony_,that is improbabl e
or ;implausible . -See Geiger v . Commissioner , 440 F . .2d 688, 68969…
IRCCourt RulingsAug 24, 1995related by meaning
drawn therefrom), but that, if such order were not a QDRO, petitioner’s ex-husband and not petitioner would be taxable in respect of the distribution. As will subsequently become apparent, such all-or-nothing treatment will not necessarily flow from our decision herein. Indeed, the road to decision herein is a rocky on…
IRCCourt RulingsMay 21, 1999
ted and $440 for the taxable
portion of petitioner's retirement distribution. Respondent
asserted a 10-percent tax of $44 on the early distribution of petitioner's retirement fund. Respondent disallowed all but $452
- 6 -
of petitioner's claimed expenses, and he also disallowed $1,002
of cost of goods sold for 1995 due…
IRCCourt RulingsApr 22, 2003related by meaning
to section 72(t)(2)(C) for relief.
It does not appear that any of the statutory exceptions to
the application of section 72(t) apply in this case, and petitioner has not suggested otherwise.
- 7 -
The Court concurs in respondent's determination that
petitioner is subject to the 10-percent additional tax on an
early dis…
IRCCourt RulingsJan 22, 2025
…CO, Inc. v. Commissioner, 503 U.S. 79, 84
(1992); New Colonial Ice Co. v. Helvering , 292 U.S. 435, 440 (1934) . This
burden requires the taxpayer t o demonstrate that the claimed
deductions are allowable pursuant to some statutory provision and to
substantiate the expenses giving rise to the claimed deductions by
main…
IRCCourt RulingsJan 29, 2019
…PCO, Inc. v.
Commissioner, 503 U.S. 79, 84 (1992); New Colonial Ice Co. v. Helvering, 292
U.S. 435, 440 (1934). This burden requires the taxpayer to demonstrate that the
claimed deductions are allowable pursuant to some statutory provision and to
substantiate the expenses giving rise to the claimed deductions by mainta…
T.C. Memo. 1995-539 — Guy Schoenecker, Inc.; Business Incentives, Inc.; and Carousel By Guy, Inc. v. Commissioner IRCCourt RulingsNov 14, 1995
…Amount paid
3/31/79 $310,640 $310,640
3/31/80 524,888 524,888
3/31/81 489,426 489,426
6/30/81
1
169,440 169,440
1982 1,613,012 1,613,012
1983 204,740 204,740
1984 420,070 420,070
1985 388,300 388,300
1986 76,248 76,248
1987 105,900 105,900
1988 0 0
1989 0 0
1990 5,000,002 5,000,002
1991 0 0
1
Short period due to change…
80 FR 72192 — Final Rules for Grandfathered Plans, Preexisting Condition Exclusions, Lifetime and Annual Limits, Rescissions, Dependent Coverage, Appeals, and Patient Protec… IRCFinal Rules (FR)Nov 18, 2015
…$106,186
$106,186
Grandfathered Plans Change in Carrier Disclosure (§ 147.140(a)(3)(i))
0938-1093
7,440
7,440
248
$7,544
$0
$7,544
IRCCourt RulingsFeb 9, 2023
…that the Chevron test, not the test under
National Muffler Dealers Ass ’ n, Inc. v. United States , 440 U.S. 472 (1979), required
the Court to defer to 26 C.F.R. sec. 31.3121(b)(10)-2(d)(3)(iii) (2005), a regulation
which, like 26 C.F.R. sec. 1.482-1(h)(2) (2006), was promulgated pursuant to sec .
7805(a). The National…
T.C. Memo. 2013-124 — Kenneth A. Carter, Robert J. Kurek, John McFawn, Paul L. Miles, Adolph F. Rivas, Curlee Thomas, and Q.C. Williams, Jr.; Petitioners v. Commissioner of Internal… IRCCourt RulingsMay 9, 2013
…benefits. * * *
- 12 -
[*12] involving a party to the prior litigation.". Montana v. United States, 440 U.S.
147, 153 (1979) (citing Parklane Hosiery Co. v. Shore, 439 U.S. 322, 326 n.5
(1979)). Collateral estoppel "is a judicially created equitable doctrine whose
purposes are to protect parties from unnecessary and re…
IRCCourt RulingsMay 23, 1958related by meaning
ice of deficiency to each petitioner, determined that the payments to Carrie should not be eliminated through application of section 438 (b) (10) (C). In Arrow-Hart & Hegeman Electric Co., 7 T. C. 1350, this Court held that gratuity payments made by a corporation to widows of its deceased employees constituted a class …
IRCCourt RulingsFeb 19, 2020
…sioner to determine the correct tax liability. See sec. 6001; Higbee v. Commissioner, 116 T.C. 438, 440 (2001); sec. 1.6001-1(a), Income Tax
Regs. In addition the taxpayer bears the burden of substantiating the amount and
purpose of the claimed deduction. Higbee v. Commissioner, 116 T.C. at 440;
Hradesky v. Commissione…