IRCCourt RulingsJan 6, 1997related by meaning
ial in relation to the weight of
authorities supporting contrary positions. Norgaard v.
Commissioner
, 939 F.2d 874 (9th Cir. 1991), affg. in part and revg. in part T.C. Memo. 1989-390; Antonides v. Commissioner
, 91
T.C. 686, 702-703 (1988), affd. 893 F.2d 656 (4th Cir. 1990);
sec. 1.6662-4(d)(3), Income Tax Regs.
Wit…
IRCCourt RulingsMar 24, 1980
…arnings in the business. Such retained earnings increased from $864,445 at the close of 1970 to $15,333,203 at the close of 1975, and as a result, the book value of Home Interiors stock rose from $1.27 per share at the end of 1969 to $26.62 at the end of 1975. On this record, it is clear that an investment in the stock…
IRCCourt RulingsJun 13, 2017related by meaning
accordingly operates to defer Petersen's deductions for the accrued but
unpaid payroll expenses to the year in which such pay was received by the ESOP participants and includible in their gross income.
II. Penalties
The Code imposes a 20% penalty on the portion of any underpayment of tax
attributable to "[n]egligence o…
IRCCourt RulingsFeb 15, 1979
…n, R. A . X 45.500 17 X
Kaumans, W. W . X 28,000 15 X
Carder, 0 . X 27,000 28 X
Ellis, L. F ., X 18,333 2
Humphreys, E. C X 17,000 27 X Plumb, S. V . X 16,850 28 X
Hosp, G. R . X 16.500 27 X
Anderson, M. J . X 16,000 25 X
Average ... 19.7
Of these employees, W. W. Kaumans was the only one employed by petitioner. In add…
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))…
89 FR 100138 — Taxable Income or Loss and Currency Gain or Loss With Respect to a Qualified Business Unit IRCFinal Rules (FR)Dec 11, 2024
…ar 1 is equal to the OFCNV of the branch determined in dollars on December 31, year 1, (which is $1,333.33) less the OFCNV of the branch determined in dollars on the last day of the preceding taxable year. Because this is the first taxable year of Japan Branch, the OFCNV of Japan Branch determined in dollars on the las…
IRCCourt RulingsJul 31, 2000related by meaning
n to compel documents from
AEGON USA, Mr. Smith’s client, and (2) respondent’s offer of
evidence as to certain marketing materials and other evidence. Petitioners argue that their positions are meritorious.
Petitioners assert that respondent’s motion to impose sanctions
against each of them is frivolous and that the Co…
IRCCourt RulingsFeb 4, 1998related by meaning
ent under section 6654; and
(4) whether petitioner is liable for a penalty under section
6673. We hold for respondent on all issues. We also hold that petitioner is liable for a penalty under section 6673 and require
him to pay to the United States a penalty of $5,000. Unless
otherwise stated, section references are to…
PBGCFinal Rules (FR)Jul 12, 2021
… estimates an average annual hour burden of 2.53 hours (7.6/3) and average annual cost burden of $6,333 ($19,000/3).
The estimated aggregate average annual hour burden for 2021-2023 for the information collection in part 4262 is 723.20 hours (600 + 98 + 22.67 + 2.53), which means a cost equivalent of $54,240 assuming a…
ERISARegulationsJan 1, 2017related by meaning
(i)(3)(ii) (ii) Upon receipt by the delivery service, if accomplished using a “designated private delivery service” within the meaning of 26 U.S.C. 7502(f);
(i)(3)(iii) (iii) Upon transmittal, if transmitted in a manner specified in the notice of intent to assess a penalty as a method of transmittal to be accorded such…
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…
34 T.C. 851 — West Virginia Steel Corp. v. Commissioner IRCCourt RulingsAug 15, 1960related by meaning
x under this section shall be in lieu of the 25 per centum addition to the tax provided ip section 3512(d).(1).
SEC. 6651. EAILURE TO FILE TAX RETURN. (b) Penalty Imposed on Net Amount Due. — For purposes of subsection (a), the amount of tar required to be shown on the return shall be reduced by the amount of any part …
90 FR 39320 — Miscellaneous Corrections, Clarifications, and Improvements PBGCFinal Rules (FR)Aug 15, 2025related by meaning
in § 4233.3 and include a statement under penalties of perjury that the plan sponsor must submit with the signed and dated application for partition. PBGC is amending paragraph (b) of § 4233.3 to better comply with the affidavit requirements prescribed by the Department of Justice for perjury cases under 28 U.S.C. 174…
81 FR 43430 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Catch-Up Adjustments ERISAFinal Rules (FR)Jul 1, 2016related by meaning
note, Pub. L. 114-74 at § 701. Subparts H and I issued under 8 U.S.C. 1101(a)(15)(H)(i)(b) and (b1), 1182(n), 1182(t), and 1184; 29 U.S.C. 49
et seq.; sec 303(a)(8), Pub. L. 102-232, 105 Stat. 1733, 1748 (8 U.S.C. 1182 note); and Title IV, Pub. L. 105-277, 112 Stat. 2681; and 28 U.S.C. 2461 note, Pub. L. 114-74 at § 70…
ERISAFinal Rules (FR)Apr 8, 2016
…k to Citation
79.
9 U.S.C. 2.
Back to Citation
80.
See AT&T Mobility LLC
v.
Concepcion,
563 U.S. 333, 342 (2011).
Back to Citation
81.
See American Express Co.
v.
Italian Colors Restaurant,
133 S. Ct. 2304 (2013);
AT&T Mobility LLC
v.
Concepcion,
563 U.S. 333 (2011).
Back to Citation
82.
See D.R. Horton, Inc.
v.…
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…
80 FR 54374 — Determination of Minimum Required Pension Contributions IRCFinal Rules (FR)Sep 9, 2015
… or $65,625) or (b) 7/12 of 100% of the 2016 minimum required contribution ($100,000 × 7/12, or $58,333). The required installments are thus based on $58,333 because that is the smaller amount.
(iv) The amount of each required installment is determined by dividing the amount determined in paragraph (iii) of this
Exampl…
IRCCourt RulingsNov 6, 2012related by meaning
oneous. Rule 142(a); Welch v. Helvering, 290 U.S. 111, 115 (1933). However,
the Commissioner bears the burden of proof with respect to any increase in deficiency. See Rule 142(a)(1). Our conclusion, however, is based on a
preponderance of the evidence, and thus the allocation of the burden of proof is
immaterial. See E…
IRCCourt RulingsApr 2, 2020related by meaning
period starts with the due
date of the return. Sec. 6501(b)(1).
- 13 -
[*13] taxpayer signing the Form 4549 waives the section 6213(a) prohibition on the IRS's assessing a tax deficiency without the mailing of a notice of deficiency.
S_e_e sec. 6213(d) (stating that taxpayers may waive restrictions on assessment
provi…