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61. 29 C.F.R. § 4044.30 — [Reserved]
    PBGCRegulationsJan 1, 2017related by meaning
    [Reserved]
62. T.C. Summary Opinion 2019-1 — Christopher John Totten v. Commissioner
    IRCCourt RulingsJan 29, 2019related by meaning
    yer whose inexactitude is of his own making. See Cohan v. Commissioner, 39 F.2d 540, 543-544 (2d Cir. 1930); see also Vanicek v. Commissioner, 85 T.C. 731, 742-743 (1985). In order for the Court to estimate the amount of a deductible expense, the taxpayer must establish some basis upon which an estimate may be made. No…
63. T.C. Memo. 2022-100 — Donald Furrer & Rita Furrer v. Commissioner
    IRCCourt RulingsSep 28, 2022related by meaning
    . See FPL Grp., Inc. & Subs. v. Commissioner, 116 T.C. 73, 74 (2001). We may grant summary judgment regarding an issue as to which there is no genuine dispute of material fact and a decision may be rendered as a matter of law. Rule 121(b); Sundstrand Corp. , 98 T.C. 518, 520 (1992), aff’d , 17 F.3d 965 (7th Cir. 1994).…
64. T.C. Summary Opinion 2003-99 — Barney K. & Lindy W. Huang v. Commissioner
    IRCCourt RulingsJul 23, 2003
    …substantiating the amount of the expense is of his own making. Cohan v. Commissioner , 39 F.2d 540, 543-544 (2d Cir. 1930). We cannot estimate a deductible expense, however, unless the taxpayer presents evidence sufficient to provide some basis upon which an estimate may be made. Vanicek v. Commissioner , 85 T.C. 731, …
65. 58 T.C. 241 — Estate of Kleemeier v. Commissioner
    IRCCourt RulingsMay 8, 1972related by meaning
    computed. The repetitious reference to “the decedent” indicates that the statute is addressing itself to the particular decedent who was the employee. The statute does not refer to “a decedent” which might connote its applicability to any decedent whether or not that decedent was the employee for whom the annuity was p…
66. 133 T.C. No. 9 — Taproot Administrative Services, Inc. v. Commissioner
    IRCCourt RulingsSep 29, 2009
    …nkr . 327, 334 (Bankr . N .D . Ill . 1994) ; Crystal Bar, Inc . 'v . Cosmic, Inc . , 758 F . Supp . 543, 544, 551 (D .S .D . 1991) ; Deppisch v . United States , 227 Bankr . 806, 808-09 (Bankr . S .D . Ohio 1998) . This gives the IRS the power to seize taxpayers' property held in an IRA . See secs . 6331-6334 ; Kane v …
67. 67 T.C. 131 — Babst Services, Inc. v. Commissioner
    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…
68. 101 T.C. 215; 101 T.C. No. 15 — Clark v. Comm'r
    IRCCourt RulingsSep 14, 1993related by meaning
    nternal Revenue Code of 1986 (as amended by subsection (a) [of this Act]) that the distribution be received after attaining age 591/2 shall not apply. (C) Lump Sum Distributions to Which Paragraph Applies. — This paragraph shall apply to any lump sum distribution if— (i) such lump sum distribution is received by an ind…
69. T.C. Summary Opinion 2005-80 — Harald Berrey v. Commissioner
    IRCCourt RulingsJun 9, 2005related by meaning
    . 213 shall be deemed paid for by a portion of petitioner’s withdrawal from his thrift savings plan and are therefore excepted from the additional tax under sec. 72(t). Respondent further concedes that petitioner’s filing status is married filing jointly. Respondent determined a deficiency in petitioner’s Federal incom…
70. 95 T.C. 289; 95 T.C. No. 22 — Estate of Levitt v. Commissioner
    IRCCourt RulingsSep 13, 1990related by meaning
    as to utilize the estate tax unified credit to its fullest extent. Kenneth G. Coveney, for the petitioner. William H. Quealy, Jr., for the respondent. Nims, Chief Judge. Korner, Hamblen, Cohen, Clapp, Swift, Wright, Parr, and Colvin, JJ., agree with the majority. Chabot, J., concurring *88 in the result. Hamblen and Wh…
71. 110 T.C. No. 1 — Nurit Haramgaal v. Commissioner
    IRCCourt RulingsJan 12, 1998related by meaning
    out of her qualified IRA and pension plan) are includable in petitioners' 1991 income. Section 72(t) imposes a 10-percent additional tax on premature distributions from retirement plans. Exceptions exist as provided under section 72(t)(2), in cluding distributions made on or after the date the recipient reaches the age…
72. 139 T.C. No. 11 — Robert S. & Marsha M. Yarish v. Commissioner
    IRCCourt RulingsOct 4, 2012
    …suasive evidence of Congress' intent. United States v. Am. Trucking Ass'ns, Inc., 310 U.S. 534, 542-543 (1940). The plain language of a statute is ordinarily to be given effect unless to do so would produce an absurd or futile result, or an unreasonable result that plainly conflicts with legislative intent. See United …
73. 34 T.C. 851 — West Virginia Steel Corp. v. Commissioner
    IRCCourt RulingsAug 15, 1960related by meaning
    26 T.C. 770 (1956); and Beeh Chemical Equipment Corporation, 27 T.C. 840 (1957). The respondent’s imposition of the addition to tax must be sustained. The question remains of the proper amount upon which the addition to tax should be computed. The respondent asserts that under section 291(a), set forth supra in the mar…
74. T.C. Memo. 2009-133 — Paul Rudnick v. Commissioner
    IRCCourt RulingsJun 9, 2009
    …t allowable in som e .circumstances (the Cohan rule) . See Cohan v . Commissioner , 39 F .2dij-540, 543-544 (2diCir . 1930) . There must be sufficient evidence in .,the record, however, to permit us to conclude that the taxpayer paid or incurred a deductible expense in at leas t .the amount allowed . See Williams v . U…
75. 80 T.C. 239; 80 T.C. No. 4 — Feichtinger v. Commissioner
    IRCCourt RulingsJan 20, 1983related by meaning
    nue Code of 1954 as amended and in effect during the year here in issue. All references to Rules are to the Tax Court Rules of Practice and Procedure. Absent special election, the "limitation year” is the calendar year. Sec. 1.415-2(b), Income Tax Regs. In this case, both the plan year and the limitation year were set …
76. 147 T.C. No. 14 — Pizza Pro Equipment Leasing, Inc. v. Commissioner
    IRCCourt RulingsNov 17, 2016related by meaning
    culating the required reduction in the section 415 dollar limitation. Accordingly, inasmuch as respondent applied this method to calculate the reduced benefit limitation under section 415(b)(2)(C) for the plan, his calculations of the age 45 limits for tax years 2002 through 2006 are correct. III. Petitioner's Liabilit…
77. T.C. Memo. 2014-21 — Alvan L. Bobrow & Elisa S. Bobrow v. Commissioner
    IRCCourt RulingsJan 28, 2014related by meaning
    her traditional IRA, a qualified retirement plan for purposes of section 72(t). S_ee sec. 4974(c)(4). Petitioner wife had not attained age 59½ at the time of the July 31, 2008, distribution. Petitioner wife has not shown that she qualifies for any of the other exemptions in section 72(t)(2). See Phillips v. Commission…
78. T.C. Summary Opinion 2006-177 — Richard D. Smart v. Commissioner
    IRCCourt RulingsOct 25, 2006
    … 447 U .S . 102, 108 (1980) ; United States v . Am . Trucking Associations, Inc . , 310 U .S . 534, 543-544 (1940) ; Allen v . Commissioner , 118 T .C . 1, 7 (2002) . In the instant case, the Court deeply sympathizes with petitioner for his loss, but we are bound by the statutory language and unable to extend - 6 - the…
79. T.C. Memo. 1997-348 — Estate of Leon Amiel, Deceased, Leon L. Amiel, Administrator, C.T.A. v. Commissioner
    IRCCourt RulingsJul 29, 1997related by meaning
    ed on Schedule M, Part 2 of the estate tax return Q-TIP tre atment for the "Part B" trust. We find petitioner's position unpersuasive. The language of -10the transitional rule is explicit. The transitional rule precludes the unlimited marital deduction provided with the enactment of ERTA to an estate where: (1) The wil…
80. T.C. Summary Opinion 2014-18 — Thomas Wesley Alexander & Sylvia Alexander v. Commissioner
    IRCCourt RulingsFeb 26, 2014related by meaning
    ount (IRA); (2) are liable for the 10% additional tax under section 72(t); and (3) are liable for the accuracy-related penalty under section 6662(a).' A few of the facts have been stipulated and are so found. The stipulation of facts and the exhibits received in evidence are incorporated herein by reference. Petitioner…