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61. T.C. Memo. 2002-166 — Wayne A. McFadden v. Commissioner
    IRCCourt RulingsJul 2, 2002
    …ome tax: - 2 - Year Deficiency Accuracy-Related Penalty Sec. 6662(a) 1995 $39,052 $7,810.40 1996 24,428 4,759.00 Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the years at issue, and all Rule references are to the Tax Court Rules of Practice and Procedure. After conce…
62. 73 T.C. 758 — Tionesta Sand & Gravel, Inc. v. Commissioner
    IRCCourt RulingsJan 31, 1980related by meaning
    that in Community Services. Because that case was not decided under section 401(a)(7), its holding has no bearing on our decision of the instant case. Since the trustees are also shareholders, directors, and employees participating in the plan, petitioner contends that the State law principles of fiduciary duty prevent…
63. 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…
64. 154 T.C. No. 6 — Sandra M. Conard v. Commissioner
    IRCCourt RulingsMar 10, 2020related by meaning
    sis test. FIe] , further, as applied to P, I.R.C. sec. 72(t) is valid because the age and disability classifications established by the statute bear a reasonable relationship to a legitimate Government purpose. Sandra M. Conard, pro se. Scott W. Forbord and Mark J. Miller, for respondent. OPINION TORO, Judge: A taxpaye…
65. T.C. Summary Opinion 2011-64 — Larry Ray & Marjorie Z. Zedaker v. Commissioner
    IRCCourt RulingsJun 1, 2011related by meaning
    n; thereafter, all amounts received would be fully includable in gross income. Id. However, this provision was repealed by the Tax Reform Act of - 7 - 1986, Pub. L. 99-514, sec. 1122(c) (1), (h) (1)-(7), 100 Stat. 2467, 2470.5 Petitioners should understand that the Tax Court is a court of limited jurisdiction and that …
66. 134 T.C. No. 6 — Karl L. & Deborah Matthies v. Commissioner
    IRCCourt RulingsFeb 22, 2010
    …ition is that "the contract would, but for the sale, be surrendered by the plan" . 1977-2 C .B . at 428 . The record does not show that this condition was met . More fundamentally, as just discussed, cash surrender value, as defined under sec . 7702(f)(2), does not include-any reduction for surrender charges . Moreover…
67. T.C. Summary Opinion 2005-103 — Basman Ahmad & Khitam Amerneh v. Commissioner
    IRCCourt RulingsJul 25, 2005related by meaning
    settlement agreement is not a qualified domestic order, and Mr. Ahmad is not an alternate payee, the exception in section 72(t)(2)(C) is inapplicable. In light of the foregoing, the Court holds that petitioners are liable for the 10-percent additional tax imposed under section 72(t). Reviewed and adopted as the report …
68. T.C. Summary Opinion 2012-7 — Douglas M. & Delana M. Gallant v. Commissioner
    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…
69. T.C. Summary Opinion 2005-78 — Hossam Helmy El-Bibany & Salma Hassan Kandil v. Commissioner
    IRCCourt RulingsJun 8, 2005
    …h Cir. 1962), affg. in part and revg. in part 32 T.C. 998 (1959); Zuanich v. Commissioner , 77 T.C. 428, 432-433 (1981). An exception exists only in the rare case where a taxpayer can prove he or she would suffer an unconscionable injury because of that reliance. Manocchio v. Commissioner , 78 T.C. 989, 1001 (1982), af…
70. 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…
71. T.C. Memo. 2002-273 — Augustin B. Jombo v. Commissioner
    IRCCourt RulingsOct 29, 2002
    …not carry over any losses to 1996. 6(...continued) stated in it. Lawinger v. Commissioner, 103 T.C. 428, 438 (1994); Wilkinson v. Commissioner, 71 T.C. 633, 639 (1979); Roberts v. Commissioner, 62 T.C. 834, 837 (1974). - 14 - G. Whether Petitioner Is Liable for the Accuracy-Related Penalty Under Section 6662 1. Adequat…
72. 108 T.C. No. 12 — American Stores Company and Subsidiaries v. Commissioner
    IRCCourt RulingsMar 31, 1997related by meaning
    individual employer contributors to determine their deduction limits in the tenebrous context of overlapping tax and plan years. Consequently, section 404(a)(6), by its reference to section 404(a)(1) through (3), has an impact on section 413(b)(7). Petitioner maintains that, if an individual employer's tax treatment of…
73. 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 …
74. 37 T.C. 78 — Hayward v. Commissioner
    IRCCourt RulingsOct 25, 1961related by meaning
    ment Commission is correct, and we also do not decide whether the allocation conforms to the partnership agreement or to proper accounting principles. Because petitioners concede that the certificate of disallowance has the effect of reducing their net operating loss for tax purposes below the amounts claimed by them i…
75. 73 T.C. 5; 1 Employee Benefits Cas. (BNA) 1614 — Garland v. Commissioner
    IRCCourt RulingsOct 4, 1979related by meaning
    be based on principles similar to the principles which apply in the case of subsection (b). [Emphasis added.] SEC. 414. DEFINITIONS AND SPECIAL RULES. (b) Employees of Controlled Group of Corporations. — For purposes of sections 401,408(k), 410, 411 and 415, all employees of all corporations which are members of a cont…
76. 88 T.C. 641; 88 T.C. No. 35 — Calfee, Halter, & Griswold v. Commissioner
    IRCCourt RulingsMar 23, 1987related by meaning
    g, Decisions will be entered for the petitioners. By order of the Chief Judge, these cases were reassigned to Judge Williams for decision and opinion. All section references are to the Internal Revenue Code of 1954 as amended and in effect during the years in issue, unless otherwise indicated. The statutory prerequisit…
77. 29 C.F.R. § 4907.152-4907.159 — [Reserved]
    PBGCRegulationsJan 1, 2017related by meaning
    [Reserved]
78. 106 T.C. No. 20 — Alfred E. Gallade v. Commissioner
    IRCCourt RulingsMay 28, 1996
    …come Tax Regs., concerning constructive receipt as interpreted in Hornung v. Commissioner , 47 T.C. 428, 434 (1967), provides that Income although not actually reduced to a taxpayer’s possession is constructively received by him in the taxable year during which it is credited to his account, set apart for him, or other…
79. 38 T.C. 312 — Hydro Molding Co. v. Commissioner
    IRCCourt RulingsMay 28, 1962related by meaning
    ystem. * * * To grant plaintiff the relief prayed for would either be to invoke equity or to legislate, which in either instance, is not our province. Similarly, in the instant case, although the result is harsh, the clear and unambiguous language of the statute requires the conclusion that petitioner is not entitled t…