T.C. Memo. 1998-154 — Estate of Martin J. Machat, Deceased; Avril Giacobbi and Eric R. Sklar, Executors v. Commissioner IRCCourt RulingsApr 27, 1998
…ions 402(a)(9) and 414(p)(8), as enacted by the Retirement
Equity Act of 1984 (REA '84), Pub. L. 98-397, sec. 204(c)(1) and
(b), 98 Stat. 1448, 1445, provide that (1) if a qualified
domestic relations order (QDRO) designates the spouse, former
spouse, child, or other dependent of the plan participant as a
person who is…
IRCCourt RulingsJan 13, 1997
…meets the statutory definition of a QDRO.
- 7 -
The Retirement Equity Act of 1984 (REA), Pub. L. 98-397,
sec. 204(b), 98 Stat. 1445, added section 414(p), which defines a
QDRO. Section 414(p) provides, in pertinent part, the following:
SEC. 414(p). Qualified Domestic Relations Order
Defined.--For purposes of this subse…
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…
IRCCourt RulingsDec 19, 1995
…7); Atlee v. Commissioner
, 67 T.C. 395, 396
n.2 (1976); Hedrick v. Commissioner
, 63 T.C. 395, 396-397 (1974); Alexander v.
Commissioner
, 61 T.C. 278, 288 n.6 (1973); Stengel v. Commissioner
, T.C. Memo.
1992-570, affd. without published opinion 996 F.2d 1227 (9th Cir. 1993);
Cotter v. Commissioner
, T.C. Memo. 1991-…
IRCCourt RulingsMay 20, 1976related by meaning
ugh Nov. 23,1970, and was adjusted to $81,473 in the statutory notice. Petitioner has agreed to such adjustment.
SEC. 162. TRADE OR BUSINESS EXPENSES. (a) In General. — There shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or busi…
IRCCourt RulingsDec 19, 1995
…1984 (DEFRA),
Pub. L. 98-369, 98 Stat. 494; and the Retirement Equity Act of
1984 (REA), Pub. L. 98-397, 98 Stat. 1426.
The corporation contributed $29,152 to the plan 1 account of
Mr. Fazi and $3,950 to the plan 1 account of Mrs. Fazi for the
year ending August 31, 1986. Mr. Fazi was 100 percent vested in
his plan 1 a…
IRCCourt RulingsNov 30, 2006related by meaning
so. Despite the fact
that Mrs. Colombell received no tax benefit whatsoever from her
“participation” in Inova’s retirement plan, the Court is not free to rewrite the law. See, e.g., Hildebrand v. Commissioner
, 683
F.2d 57, 59 (3d Cir. 1982), affg. T.C. Memo. 1980-532; Johnson v.
Commissioner
, 661 F.2d 53, 54-55 (5th …
IRCCourt RulingsApr 3, 2002
…of zero. Despite respondent's
lack of explanation, the Court surmises that respondent
determined $4,397 of this difference to have been adequately
disclosed, and, therefore, $16,056 was considered the
understatement of tax for purposes of section 6662(d)(2)(A). In
IRCCourt RulingsJan 10, 2012related by meaning
v. Commissioner, supra.
The Court must enforce the laws as written and interpreted.
"While the result to petitioner seems harsh, we cannot ignore the plain language of the statute and, in effect, rewrite this
statute to achieve what would appear to be an equitable result."
Eanes v. Commissioner, supra at 171. Rather, w…
IRCCourt RulingsMay 21, 1999
…al & professional services 250
Supplies 982
Taxes & licenses 216
Travel 1,695
Meals & entertainment 397
Other expenses:
Transportation $967
Telephone 825
Freight charges & postage 483
Location rentals 396
2,671
Total 9,012
Petitioner filed his 1994 return on May 3, 1996. Petitioner
timely filed his 1995 return. Upon ex…
IRCCourt RulingsJan 16, 2020related by meaning
bed in section 72(t) in respect of Mr. Merrell's IRA
distribution is sustained.
As a final matter, petitioners maintain that they will suffer economic hardship if the additional tax prescribed in section 72(t) is imposed in this case.
We have considered similar claims in the past and have observed that there is no
-8au…
IRCCourt RulingsFeb 4, 1998
…tions to tax as
follows:
Additions to Tax
Sec. Sec.
Year
Deficiency
6651(a)(1)
6654
1993 $37,428 $6,397 $1,017
1994 41,918 8,829 1,782
Petitioner petitioned the Court on December 30, 1996, to
redetermine respondent's determination of these deficiencies and
additions to tax.
We must decide: (1) Whether petitioner is lia…
IRCCourt RulingsJun 7, 1984related by meaning
ue Act of 1978), 1978-3 C.B. (Vol. 1) 521, 626; Staff of the Joint Comm, on Taxation, General Explanation of the Revenue Act of 1978, at 103, 106-107. However, even if a taxpayer qualifies for such relief, nothing in the statute or the legislative history authorizes relief from the section 4973 tax for the years during…
IRCCourt RulingsJul 6, 2022
…Subs. v. Commissioner, 155 T.C. 145, 207 (2020); Union Equity Coop. Exch . v. Commissioner, 58 T.C. 397 (1972) , aff’d , 481 F.2d 812 ( 10th Cir. 197 3) ; Rose v.
Commissioner, 55 T.C. 28, 32 (197 0 ). This bedrock principle underlies
the well-known maxim that every tax year stands on its own.
6
In Mazzei v . Commissio…
IRCCourt RulingsJul 8, 1980related by meaning
2,300.
All statutory references are to the Internal Revenue Code of 1954 as in effect during the year in issue.
Sec. 6652(c) states in pertinent part: (c) Failure To Report Tips. — In the case of failure by an employee to report to his employer on the date and in the manner prescribed therefor any amount of tips requir…
IRCCourt RulingsMar 5, 2018related by meaning
¹² The Commissioner here also doesn't seek to redetermine income tax, but
only because the statute of limitations has run--he says if it hadn't, he'd redetermine the income tax too. We previously decided this was enough of a
distinction from Hellweg to let these cases go forward on the excise-tax issue
alone. Mazzei v…
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…
T.C. Memo. 2024-24 — James Elbert Aldridge, Jr. & Shirley Lorraine Aldridge v. Commissioner IRCCourt RulingsFeb 21, 2024
…$2,836,896
Total Expenses 573,086 856,475 1,695,246 2,818,055 2,775,227
Net Income 56,968 5,863 295,397 287,828 61,669
For 2004, Special Agent Trogden examined the bank records of
four bank accounts titled in the name of CMI Trust, over which
petitioners had signature authority, and concluded that CMI Trust
received gr…
IRCCourt RulingsApr 19, 2005
… treats the alternate payee as the
distributee.
The Retirement Equity Act of 1984 (REA), Pub. L. 98-397,
sec. 204(b), 98 Stat. 1445, added section 414(p), which defines a
QDRO. Section 414(p) provides, in pertinent part, the following:
SEC. 414(p). Qualified Domestic Relations Order Defined.--
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 …