IRCPrivate Letter RulingsJun 5, 2020
…ed in section 213(d)) of the taxpayer or the taxpayer’s spouse or dependents (as defined in section 152, determined with out regard to subsections (b)(1), (b)(2), and
(d)(1)(B)) and any child (as defined in section 152(f)(1)) who has not attained age 27 as
of the end of the taxable year. Section 1.105-2 provides that o…
IRCCourt RulingsDec 30, 2013related by meaning
the amount of tax imposed that is shown on the return, reduced by any
rebate. Sec. 6662(d)(2)(A). The amount of the understatement is reduced by that portion of the understatement that is attributable to (1) the tax treatment of any
item if there is or was substantial authority for such treatment, or (2) any item if
t…
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…
IRCCourt RulingsOct 29, 2002related by meaning
es on private income having its
source in the receiving State and capital taxes on
investments made in commercial undertakings in the
receiving State; Similarly, article 49(d) of the Vienna Convention on Consular
Relations (article 49), 21 U.S.T. at 108, provides that consular
officers and employees are exempt from all…
IRCPrivate Letter RulingsMar 11, 2016
…e (as defined in
section 213(d)) of the taxpayer, his spouse, his dependents (as defined in section 152,
determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof), and any
PLR - 121608-15 6
child (as defined in section 152(f)(1) ) of the taxpayer who as of the end of the taxable
year has not attai…
ERISARegulationsJan 1, 2017related by meaning
(k) (k) Cross-reference. See §§ 2570.160 through 2570.171 of this chapter for procedural rules relating to administrative hearings under section 502(c)(8) of the Act.
IRCCourt RulingsMar 9, 2011
… to both
the deemed and actual distributions. For 2004 to 2006
ENH reported dividend income of $100,152, $99,916, and
$80,510 and paid Federal income taxes of $22,063,
$21,943, and $15,349,v respectively. TDH reported
dividend income of $100,152, $99,916, and $80,510 and
paid Federal income taxes of $22,063, $21,943, a…
IRCCourt RulingsJan 31, 2001
…may deduct the exemption amount with respect to such child
for the year. See sec. 151(e). Section 1.152-4(b), Income Tax
- 17 -
5 Sec. 152(e)(2) provides a means by which the custodial
parent may permit the noncustodial parent to claim the child as a
dependent for the year. However, petitioner does not claim that
Ms. H…
IRCCourt RulingsMar 22, 2007related by meaning
ddition to tax must be
sustained.
Section 6673(a)(1) authorizes the Court to require a
taxpayer to pay the United States a penalty in an amount not to exceed $25,000 whenever the taxpayer’s position is frivolous or
groundless or the taxpayer has instituted or pursued the
proceeding primarily for delay. Respondent has n…
IRCCourt RulingsMar 7, 2000related by meaning
994 and 1995 tax
liabilities.
We grant respondent's motion for a penalty under section
6673. Under section 6673, this Court may award a penalty to the United States of up to $25,000 when the proceeding has been
instituted or maintained by the taxpayer primarily for delay or
if the taxpayer's position in such proceeding…
IRCCourt RulingsFeb 15, 2002
spouse, or a dependent (as
defined in section 152)”. While petitioner’s mother could have
been his dependent, see sec. 152(a)(4), in order for her to qualify as his dependent, petitioner would have had to provide
over half of her support, sec. 152(a). We note that not only is
the record totally devoid of any evidence …
IRCCourt RulingsJan 5, 2017related by meaning
ably with the Code, but also negligence and a clear disregard of
rules or regulations. Petitioner did not act with reasonable cause and in good faith. Accordingly, the Court holds that petitioner is liable for accuracy-related penalties
under section 6662(a) for the 2010 and 2011 tax years.
- 15 -
[*15] VII. Section 66…
IRCCourt RulingsSep 21, 2017
ependent (as defined in section 152) of the taxpayer for the taxable
year." Sec. 151(c). Section 152(a) defines a "dependent" to include a "qualifying child". Generally, a "qualifying child" must: (1) bear a specified relationship to
the taxpayer; (2) have the same principal place of abode as the taxpayer for more
than…
IRCCourt RulingsSep 27, 1990related by meaning
. United States, 872 F.2d 564, 568-570 (3d Cir. 1989).
Respondent assumes but does not concede that section 4975(a) imposes a penalty tax. He asserts: the issue in this case would still be whether there is “any expressed or necessarily implied provision or language . . .” (Commissioner v. Acker, 361 U.S. 87, 91 (1959))…
IRCCourt RulingsMar 25, 2013
…poration has a limited number of officers. Charles Schneider &
Co. v. Commissioner, 500 F.2d at 151-152. No single factor is dispositive. See Pepsi-Cola Bottling Co. v. Commissioner, 528 F.2d 176, 178 (10th Cir. 1975),
aff'g 61 T.C. 564 (1974). Special scrutiny is given in situations where a
corporation is controlled b…
67 T.C. 29 — Federal Land Bank Asso. v. Commissioner IRCCourt RulingsOct 6, 1976related by meaning
or lack of jurisdiction.
Appropriate orders will be issued.
Statutory references are to the Internal Revenue Code of 1954, unless otherwise indicated. Sec. 7476 is a new provision of the Internal Revenue Code. It provides taxpayers with a forum in which they may receive determinations of whether their plans are qualifi…
IRCCourt RulingsDec 16, 1998
…termined it was, and, relying primarily
on Commissioner v. Keystone Consol. Indus., Inc.
, 508 U.S. 152
(1993), argues to the same effect in this proceeding.
Petitioner argues that the transfer was not a prohibited
- 7 -
transaction under section 4975(a). According to petitioner,
the prohibited transaction rules do not…
78 FR 13781 — Filings Required of Multiple Employer Welfare Arrangements and Certain Other Related Entities ERISAFinal Rules (FR)Mar 1, 2013related by meaning
ssessment of civil penalties under section 502(c)(5) of ERISA, see §§ 2570.90 through 2570.101 of this chapter.
(2)
Criminal penalties and procedures. For information on criminal penalties under section 519 of ERISA for persons who knowingly make false statements or false representation of fact with regards to the info…
79 FR 26838 — Tax Treatment of Qualified Retirement Plan Payment of Accident or Health Insurance Premiums IRCFinal Rules (FR)May 12, 2014
…s incurred by the employee, the employee's spouse, the employee's dependents (as defined in section 152 determined without regard to section 152(b)(1), (b)(2), or (d)(1)(B)), or any child (as defined in section 152(f)(1)) of the employee who as of the end of the taxable year has not attained age 27. * * * For the treat…
IRCCourt RulingsJan 9, 1985related by meaning
t that previously was not subject to the penalty. Samuels v. McCurdy, 267 U.S. 188 (1925); Chicago & Alton Railroad v. Tranbarger, 238 U.S. 67 (1915). We note that petitioner can avoid payment of the section 4975(b) tax by correcting the prohibited loans before our decision herein becomes final. Secs. 4961 and 4962.
To…