IRCCourt RulingsNov 4, 1976related by meaning
loyment is for not more than 20 hours in any one week, and employees whose customary employment is for not more than 5 months in any calendar year, or (B) such employees as qualify under a classification set up by the employer and found by the Secretary or his delegate not to be discriminatory in favor of employees who…
29 T.C. 737 — R. G. Le Tourneau, Inc. v. Administrator of General Services IRCCourt RulingsJan 30, 1958related by meaning
cated to it. The division between the petitioner and the Georgia company was based on a mathematical formula that is set out as part of the agreement. By agreements dated December 1,1944, and March 26,1945, between the petitioner and the United States it was agreed that $3,900,000 of the profits realized by the petitio…
IRCCourt RulingsJan 2, 2020
…,869 as the taxable amount.6
Petitioners reported for 2007 adjusted gross income of negative $1,085,809
and tax of $100. On May 5, 2008, respondent issued to petitioners the claimed
refund of $12,067, as petitioners claimed withholding, a child tax credit, and
excess Social Security payments totaling that amount.
Mr. G…
IRCCourt RulingsJul 22, 1980related by meaning
y for purposes of applying such section. * * *
Sec. 83(a) and (c)(1) states:
SEC. 83. PROPERTY TRANSFERRED IN CONNECTION WITH PERFORMANCE OF SERVICES. (a) General Rule. — If, in connection with the performance of services, property is transferred to any person other than the person for whom such services are performed,…
IRCCourt RulingsAug 8, 2019
… (4), (5).
As part of the Taxpayer Relief Act of 1997, Pub. L. 105-34, secs. 203, 303, 111 Stat. at 809, 829, Congress enacted two additional exceptions to the 10%
additional tax: distributions for higher education expenses and distributions for
first home purchases. Sec. 72(t)(2)(E) and (F). Of paramount importance is…
IRCCourt RulingsMay 13, 2013
…97, as part of the Taxpayer Relief Act of 1997, Pub. L. No. 105-34,
secs. 203 and 303, 111 Stat. at 809, 829, Congress enacted two more exceptions to
the 10% additional tax: premature distributions for qualified education expenses,
sec. 72(t)(2)(E), and, pertinent to this case, premature distributions for first-time
ho…
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…
IRCCourt RulingsDec 29, 2008
… return . Their two children were still dependents . To
make ends meet, the Martinezes withdrew $21,809 from their
retirement plans : $18,840 from Mr . Martinez's plan and $2,969
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from petitioner's plan . In calculating their tax liability for
1995 their preparer properly included the withdrawals in the
Martinezes…
Rev. Rul. 2009-40 — 2010 covered compensation tables; permitted disparity. The covered compensation tables under section 401 of the Code for the year 2010 are provided for use in … IRCRevenue RulingsDec 28, 2009related by meaning
ment 2009-88 Announcement 2009-88
A list is provided of organizations now classified as private foundations.
Announcement 2009-90 Announcement 2009-90 The IRS has revoked its determination that Twenty First Century World — TEMENOS of San Rafael, CA, qualifies as an organization described in sections 501(c)(3) and 170(c…
145 T.C. No. 1 — John A. Tomassetti & Cathy C. Tomassetti v. Commissioner IRCCourt RulingsJul 13, 2015★ strong match
…tax that
they would otherwise pay absent the use of the shelters. See Helvering v.
Gregory, 69 F.2d 809, 810 (2d Cir. 1934), aff'd, 293 U.S. 465 (1935).
Promoters of tax shelters obviously know that taxpayers generally desire to
pay less Federal income tax rather than more, and such promoters regularly devise
novel (an…
IRCCourt RulingsJul 14, 2005related by meaning
did not consider the
precedential effect of Beech Trucking Co. v. Commissioner, 118
T.C. 428 (2002) (Beech Trucking Co.), and (b) the factors used in determining whether a person is an employer or an employee24 that
the Court applied in Transport Labor I were inconsistent with the
common-law employment factors applied…
36 T.C. 491 — Hiawatha Home Builders, Inc. v. Commissioner IRCCourt RulingsJun 9, 1961related by meaning
ter refer only to section 1551, the provisions of which are as follows :
SEC. 1551. ¡DISALLOWANCE OF SURTAX EXEMPTION AND ACCUMULATED EARNINGS CREDIT. If any corporation transfers, on or after January 1, 1951, all or part of its property (other than money) to another corporation which was created for the purpose of acq…
IRCCourt RulingsApr 19, 2006
…(c)(4) and
(5) and 7701(a)(37); Taxpayer Relief Act of 1997, Pub. L. 105-34,
sec. 203(a), 111 Stat. 809. This is evident in the report of the
Committee on the Budget, which provides:
Penalty free IRA withdrawals for education
expenses
-- The bill provides that individuals may make
penalty-free withdrawals from their IR…
IRCCourt RulingsMar 25, 2013related by meaning
licies and day-today activities are determined not as decisions of the corporation but
by their owners acting individually". National Carbide Corp. v. Commissioner, * * * [336 U.S. 422,] 433 [1949]; see Chelsea
Products, Inc. [v. Commissioner], 16 T.C. 840, 851 (1951), affd. 197
F.2d 620 (C.A. 3, 1952).
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[*35] Pe…
IRCCourt RulingsApr 22, 1992related by meaning
Finally, petitioners argue that a literal reading of section 402(e)(4)(B) leads to absurd results. In support of their argument, petitioners provide several examples of the disparate treatment among taxpayers that emanates from a literal application of section 402(e)(4)(B). Granted that a literal reading may, under cer…
IRCCourt RulingsApr 27, 2006
…(c)(4) and (5) and 7701(a)(37);
Taxpayer Relief Act of 1997, Pub. L. 105-34, sec. 203(a), 111
Stat. 809. This is evident in the report of the Committee on the
Budget, which provides:
Penalty free IRA withdrawals for education
expenses
-- The bill provides that individuals may make
penalty-free withdrawals from their IR…
IRCCourt RulingsFeb 6, 2012
…the Self-Employed Individuals Tax Retireinen't Act of 1962
(1962 Act), Pub. L. No. 87-792, 76 Stat. 809, to allów sel'f-employed taxpáyers to
- 6 -
deduct from:gross income the contributions they made to their pension plans.5 S.
Rept. No. 87-992 supra, 1962-3 C.B. at 303. To allow the deduction, 1962 Act
sec. 3, 76 Sta…
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…
IRCCourt RulingsMay 15, 2003
…academic periods beginning after such date”. Taxpayer Relief Act
of 1997, Pub. L. 105-34, 111 Stat. 809.
the imposition of additional tax under section 72(t) applies to
her. Therefore, we also sustain respondent’s determination as to
Mrs. Keeley’s pension distribution.
T.C. Memo. 1996-450 — Theodore Souris, P.C., a dissolved corporation, and Theodore Souris, as successor in interest of Theodore Souris, P.C. v. Commissioner IRCCourt RulingsOct 2, 1996related by meaning
g the term "employer reversion"
subsection (c) begins with the words "For purposes of this
section". Yet, as just indicated, both parties in this case treat the section 4980(c)(2) definition as applicable here for
purposes of the income tax
. Indeed this Court has so indicated.
Lee Engineering Supply Co. v. Commissione…