Search the Pension Law Library

61. 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…
62. 62 T.C. 150; 62 T.C. No. 18 — Farley Funeral Home, Inc. v. Commissioner
    IRCCourt RulingsMay 13, 1974related by meaning
    …ll be exempt from taxation under this subtitle unless such exemption is denied under section 502 or 503.
63. T.C. Memo. 2012-221 — Robert L. Bernard & Diolinda B. Abilheira v. Commissioner
    IRCCourt RulingsAug 1, 2012related by meaning
    yer's return information. None of the assertions, even if true, would affect petitioners' deficiency. Petitioners' attacks on the Court in relation to its Rules of Practice and Procedure and the rulings in this and other cases lack merit and will not be addressed in this opinion. Adverse rulings are not grounds - 8 - […
64. 72 T.C. 461 — Citrus Orthopedic Medical Group, Inc. v. Commissioner
    IRCCourt RulingsJun 11, 1979related by meaning
    n 61 and Section 83 routes, nor need we decide whether Section 83 applies only to stock plans. Cf. Sakol v. Commissioner, 67 T.C. 986, 989-991 (1977). We think it is plain that the transfers to the trust in the instant case, if they were completed ones, were additional compensation to McElwee and Smith and the amounts …
65. Notice 2024-55 — Certain Exceptions to the 10 Percent Additional Tax Under Code Section 72(t)
    IRCNoticesJul 8, 2024related by meaning
    nal revenue law. Generally, tax returns and tax return information are confidential, as required by section 6103 of the Code. VI. DRAFTING INFORMATION The principal authors of this notice are Naomi Lehr, Vernon Carter, and Pamela R. Kinard of the Office of Associate Chief Counsel (Employee Benefits, Exempt Organization…
66. 106 T.C. No. 23 — Brody Enterprises, Inc. v. Commissioner
    IRCCourt RulingsJun 10, 1996related by meaning
    …ng entitlement to any deduction or credit claimed on their returns. INDOPCO, Inc. v. Commissioner , 503 U.S. 79 (1992); New Colonial Ice Co. v. Helvering , 292 U.S. 435, 440 (1934). In construing a statute, courts generally seek the plain and literal meaning of its language. United States v. Locke , 471 U.S. 84, 93, 95…
67. T.C. Memo. 2007-19 — Bidyut K. & Diana T. Bhattacharyya v. Commissioner
    IRCCourt RulingsJan 30, 2007related by meaning
    …ce and are allowable only as specifically provided.by statute.¹6 See INDOPCO, Inc. v. Commissioner, 503 U.S. 79, 84 (1992); Joseph v. Commissioner, T.C. Memo. 2005-169. Itemized deductions allowed i 15 Nor had petitioner attained age 55 so as to be eligible for an exception based on his separation from service. See sec…
68. T.C. Memo. 1998-399 — Ronny H. & Charlotte A. Schmalzer v. Commissioner
    IRCCourt RulingsNov 10, 1998related by meaning
    tstanding rollover involved in this case. Accordingly, the amount of excludable basis in the instant case is computed by multiplying the amount of the distribution $6,100 by a fraction the numerator of which is $1,950 and the denominator of which is $1,374.53 plus $6,100, resulting in an amount excludable of $1,591.40.…
69. T.C. Memo. 2010-263 — Ernestine Forrest v. Commissioner
    IRCCourt RulingsDec 2, 2010related by meaning
    wers v. Commissioner, 24 T.C. 199, 239 (1955), affd. 247 F.2d 233 (2d Cir. 1957), affd. sub nom. Bonney v. Commissioner, 247 F.2d 237 (2d Cir. 1957)); see also sec. 1 165-1(d) (2) (i), Income Tax Regs. This is especially true in a case involving insurance. Section 165(a) prohibits a taxpayer from deducting any amount c…
70. T.C. Memo. 1998-13 — Francisco A. Murillo v. Commissioner
    IRCCourt RulingsJan 12, 1998related by meaning
    payer receives any amount from a qualified retirement plan (as defined in section 4974(c)), the taxpayer's tax under this chapter for the taxable year in which such amount is received shall be increased by an amount equal to 10 percent of the portion of such amount which is includible in gross income. - 9 - 5 See also …
71. 85 FR 26351 — Extension of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak
    IRCFinal Rules (FR)May 4, 2020
    …ection 606, Code section 4980B(f)(6), and 29 CFR 2590.606-3. C. Claims Procedure Timeframes Section 503 of ERISA and 29 CFR 2560.503-1, as well as section 2719 of the PHS Act, incorporated into ERISA by ERISA section 715 and 29 CFR 2590.715-2719, and into the Code by Code section 9815 and 26 CFR 54.9815-2719, require E…
72. 63 T.C. 267 — Cohen v. Commissioner
    IRCCourt RulingsNov 26, 1974related by meaning
    iency disallowed the deduction for amounts withheld under section 8334 of the Act from petitioner’s wages for each of the taxable years 1969 and 1970. Although a deduction for the amounts withheld from petitioner’s wages was claimed on their tax returns, on brief petitioners contend that the section 8334 deductions are…
73. 136 T.C. No. 2 — G. Mason Cadwell, Jr. v. Commissioner
    IRCCourt RulingsJan 3, 2011related by meaning
    O O0 . Respondent - concedes that of the $38,800'contributed, $2,800 was for the Plan fee ar d $18, 645 was for life insurance premiums ($18, 000 for petitioner and $645 for MirÅncia and Jennifer) . Therefore, respondent contends that the excess contribution of $17, 355 should be included in petitioner' s gross income…
74. 72 T.C. 377 — La Mastro v. Commissioner
    IRCCourt RulingsMay 23, 1979related by meaning
    ld require the inclusion of some amount, as a human capital investment, in determining the value of his personal services rendered to the corporation. For a variety of reasons, we decline to adopt such a rule. It is well settled that the individual identities of different taxable entities must be respected. Burnet v. C…
75. 85 FR 31884 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA
    ERISAFinal Rules (FR)May 27, 2020
    …9 U.S.C. 1132, 1135, and Secretary of Labor's Order 1-2011, 77 FR 1088 (Jan. 9, 2012). Section 2560.503-1 also issued under 29 U.S.C. 1133. Section 2560.502c-7 also issued under 29 U.S.C. 1132(c)(7). Section 2560.502c-4 also issued under 29 U.S.C. 1132(c)(4). Section 2560.502c-8 also issued under 29 U.S.C. 1132(c)(8). …
76. T.C. Summary Opinion 2019-19 — Lily Hilda Soltani-Amadi & Bahman Justin Amadi v. Commissioner
    IRCCourt RulingsAug 8, 2019related by meaning
    he foregoing principles in mind, we turn to section 72(t)(2)(F) and begin with its title: "Distributions from certain plans for first home purchases." Although statutory titles and section headings do not define a statute's meaning and are not generally relied on at the expense of the statutory text itself, such titles…
77. T.C. Memo. 1996-365 — Timothy W. & Suzanne M. Coffield v. Commissioner
    IRCCourt RulingsAug 8, 1996related by meaning
    portion of the distribution reported as taxable income on the Form 1099-R ($25,709). Respondent further determined that the 10-percent additional tax imposed by section 72(t) applied to this amount, and that petitioners were liable for a negligence penalty pursuant to section 6662(a). OPINION Savings Plan Distribution…
78. T.C. Memo. 1996-263 — Richard J. & Adele S. Montgomery v. Commissioner
    IRCCourt RulingsJun 11, 1996related by meaning
    rary purpose has been shown here. Because we are satisfied that our analysis of section 4980A(e)(2) leads to the conclusion that the Retirement System was a qualified employer plan under section 4980A, we sustain respondent's determination that petitioner is liable for the 15percent excise tax under section 4980A. - 11…
79. 62 T.C. 524; 62 T.C. No. 59 — Estate of Harrison v. Commissioner
    IRCCourt RulingsJul 25, 1974related by meaning
    is nonforfeitable at the time the contribution is made. * *■ * See. 1.402(b) — 1 Treatment of beneficiary of a trust not exempt under section 501(a). (a) Taxation Toy reason of employer contributions. (1) Except as provided in section 402(d), any contribution made by an employer on behalf of an employee to a trust dur…
80. T.C. Memo. 2006-101 — Eugenie Denise Mitchell v. Commissioner
    IRCCourt RulingsMay 11, 2006related by meaning
    ions petitioner received.¹ However, as a result of the section 72(t)(1) cross-reference to section 4974(c), annuity accounts established and funded by sec.tion 501(c)(3) organizations are explicitly covered by section 72(t), and early distributions from such annuity accounts are generally subject to a 10-percent additi…