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41. T.C. Memo. 1997-147 — David E. & Gladys A. Christie v. Commissioner
    IRCCourt RulingsMar 20, 1997
    …mmissioner - 31 - v. Heininger , 320 U.S. 467, 475 (1943); Thompson v. Commissioner , 631 F.2d 642, 646 (9th Cir. 1980), affg. 66 T.C. 1024 (1976). Tax laws affect the shape of many business transactions. The parties to a transaction are entitled to take into account and to maximize favorable tax results so long as the…
42. T.C. Memo. 1997-556 — A. C. Green Electrical Contractors, Inc. v. Commissioner
    IRCCourt RulingsDec 22, 1997
    …kubowicz and their spouses, petitioner made contributions to the plans in the total amounts of $227,646, $226,794, and $226,794, respectively, for each of the years 1987, 1988, and 1989. On its Federal income tax returns for years ending September 30, 1987, 1988, and 1989, petitioner claimed deductions under section 40…
43. 98 T.C. 141; 98 T.C. No. 12 — Truck & Equipment Corp. v. Commissioner
    IRCCourt RulingsFeb 6, 1992related by meaning
    and the temporary regulations rather than the general deduction-timing rules (i.e., normal rules of accrual accounting) of the Internal Revenue Code. In summary, we hold that section 1.404(b)-lT, Temporary Income Tax Regs., is a valid temporary regulation, that petitioner has not brought itself within any exception th…
44. T.C. Memo. 2016-31 — Brian M. Polowniak v. Commissioner
    IRCCourt RulingsFeb 25, 2016
    …0 to measure the excess contribution amount and then determined that petitioner was liable for $130,646 in excise tax under section 4973 on the following amounts: (1) Bevco's gross receipts of $782,390 for its taxable year ending January 31, 2003, reported on its 2002 Form 1120; (2) Bevco's gross receipts of $719,537 f…
45. U.S. Tax Court — Val Lanes Recreation Center Corporation v. Commissioner
    IRCCourt RulingsJun 26, 2018
    …perations must meet the statutory requirements." Buzzetta Constr. Corp. v. Commissioner, 92 T.C. at 646. Before 1998 ESOPs were not eligible S corporation shareholders. Effective January 1, 1998, Congress amended section 1361(c) to allow
46. T.C. Memo. 2016-29 — Mark Vandenbosch & Julie Vandenbosch v. Commissioner
    IRCCourt RulingsFeb 24, 2016
    …t, the taxpayer would have billed at the cost); Shaara v. Commissioner, 40 T.C.M. (CCH) at 644-645, 646 (finding that without the agreement to provide kickback payments to the public officials, the taxpayer would not have inflated the invoices). - 19 - [*19] B. Rollover Contribution A rollover under section 408(d)(3) i…
47. T.C. Memo. 2015-195 — DNA Pro Ventures, Inc. Employee Stock Ownership Plan v. Commissioner
    IRCCourt RulingsOct 5, 2015
    …an to be qualified, both its terms and its operations must meet the statutory requirements." Id. at 646. Respondent's determination is presumed to be correct, and the burden of proof is on petitioner. See Rule 142(a). To prevail, petitioner must prove that respondent abused his discretion. See Buzzetta Constr. Corp. v.…
48. T.C. Memo. 2007-68 — Christina L. Belmont v. Commissioner
    IRCCourt RulingsMar 22, 2007
    …ssess him; anything that does this unequivocally is good enough.’” Jarvis v. Commissioner , 78 T.C. 646, 655-656 (1982) (quoting Olsen v. Helvering , 88 F.2d 650, 651 (2d Cir. 1937)). The notice of deficiency petitioner received was sufficient to fairly advise her of the basis for the deficiency in income tax and addit…
49. T.C. Summary Opinion 2002-66 — Milagros Z. Gueco v. Commissioner
    IRCCourt RulingsJun 10, 2002related by meaning
    T.C. Summary Opinion 2002-66 UNITED STATES TAX COURT MILAGROS Z. GUECO, Petitioner v . COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 545-01S. Filed June 10, 2002. Milagros Z. Gueco, pro se. James N. Beyer , for respondent. DINAN, Special Trial Judge : This case was heard pursuant to the provisions of section …
50. T.C. Memo. 2012-346 — Esmat Zaklama, Deceased v. Commissioner
    IRCCourt RulingsDec 18, 2012related by meaning
    ly for delay, (2) a taxpayer's position is frivolous or groundless, or (3) a taxpayer unreasonably failed to pursue available administrative remedies. Section 6673 serves in part as "a penalty statute designed to deter taxpayers from bringing frivolous or dilatory suits". Sauers v. Commissioner, 771 F.2d 64, 68 (3d Cir…
51. T.C. Memo. 1996-36 — Orvil M. & Karen L. Weddel v. Commissioner
    IRCCourt RulingsJan 30, 1996
    …equent changes to the statutory requirements. Buzzetta Constr. Corp. v. Commissioner , 92 T.C. 641, 646 (1989). It is clear from the record, and there is no dispute between the parties, that Ace failed to meet these requirements, and it was for this reason that the Plan’s taxexempt status was revoked. While it appears …
52. 28 T.C. 601 — Edell v. United States
    IRCCourt RulingsJun 10, 1957related by meaning
    OPINION.
53. 116 T.C. No. 13 — Kenneth L. Nordtvedt v. Commissioner
    IRCCourt RulingsMar 13, 2001
    …inflation adjustment to their interest income is plainly incorrect."); Birkenstock v. Commissioner, 646 F.2d 1185, 1186 (7th Cir. 1981) ("The market price of gold in terms of dollars is * * * irrelevant to the determination of * * * taxable income"), affg. T.C. Memo. 1979-201; Bates v. United States, 108 F.2d 407, 408 …
54. 38 T.C. 915 — Commercial Fishermen's Inter-Insurance Exchange v. Commissioner
    IRCCourt RulingsSep 21, 1962related by meaning
    because in the opinion of the Canadian counsel, petitioner had no claim recognizable under Canadian law and to proceed with the suit would be costly. In July 1958 petitioner, through its counsel, engaged a French attorney to attempt to recover, through the liquidator of SNAB in France. Later in 1958 the French attorne…
55. 83 T.C. 154; 83 T.C. No. 10 — Tipton & Kalmbach, Inc. v. Commissioner
    IRCCourt RulingsJul 25, 1984related by meaning
    cated, and all Rule references are to the Tax Court Rules of Practice and Procedure. See Tipton & Kalmbach, Inc. v. Commissioner, T.C. Memo. 1982-260. We note, however, that Congress in enacting ERISA appears to have adopted the facts and circumstances test of sec. 1.401-6(b)(2), Income Tax Regs., for determining wheth…
56. T.C. Memo. 2005-298 — Isabelle Bichindaritz v. Commissioner
    IRCCourt RulingsDec 29, 2005related by meaning
    lusion, we need not decide respondent's contention regarding the fact that petitioner did not receive a determination from the United States competent authority as to whether the French retirement plan generally corresponds to a United States retirement plan or that certain documents, including Exhibits 9-P and 12-P, a…
57. T.C. Summary Opinion 2011-64 — Larry Ray & Marjorie Z. Zedaker v. Commissioner
    IRCCourt RulingsJun 1, 2011
    …nment of errors in the petition is deemed conceded by the taxpayer. Jarvis v. Commissioner, 78 T.C. 646, 658 (1982); Gordon v. Commissioner, 73 T.C. 736, 739 (1980). - 3 - withdrew all of her contributions and accumulated interest from her CalSTRS account and paid the appropriate Federal income tax on the amount withdr…
58. 50 T.C. 771 — New England Tank Industries, Inc. v. Commissioner
    IRCCourt RulingsAug 26, 1968related by meaning
    ale was not intended by the parties. See Breece Veneer & Panel Co. v. Commissioner., 232 F. 2d 319, 322 (C.A. 7, 1956), reversing 22 T.C. 1386 (1954). Haggard v. Commissioner, 241 F. 2d 288 (C.A. 9, 1956), affirming 24 T.C. 1124 (1955), and Beus v. Commissioner, 261 F. 2d 176 (C.A. 9, 1958), affirming 28 T.C. 1133 (195…
59. 127 T.C. No. 1 — Charlotte & Charles T. Gee v. Commissioner
    IRCCourt RulingsJul 24, 2006
    … the time of the rollover . Petitioner transferred her IRA funds in November 2000, then totaling $2,646,797 .89, to SEI Private Trust Co . (SEI) . In 2002, petitioner requested and received a $977,887 .79 distribution from her IRA at SEI . Petitioner was under age 59 in 2002 when she received the distribution . Petitio…
60. T.C. Summary Opinion 2013-96 — Samuel & Lilian Brach v. Commissioner
    IRCCourt RulingsDec 2, 2013related by meaning
    T.C. Summary Opinion 2013-96 UNITED STATES TAX COURT SAMUEL BRACH AND LILLIAN BRACH, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 15460-12S. Filed December 2, 2013. Ronald Jay Cohen, for petitioners. Gennady Zilberman, for respondent. SUMMARY OPINION ARMEN, Special Trial Judge: This case was h…