IRCCourt RulingsJul 12, 2012
…total income of $167,014;
6. tax of $27*,505;
7. an additional tax pursvant to section 72(t) of $16,743;
8. total tax of $44,248;
9. federal income tax withheld of $20;
10. credit for federal tele hone excise tax paid of $60; and
11. an amount owed (inci uding a $2,093 estimated tax penalty) of
$46,261.1 - ·
Petitioner…
IRCCourt RulingsFeb 24, 2011
…r any other case.
Respondent determined a deficiency in petitioners' 2007
Federal income tax of $15,743, as well as a section 6662(a)
accuracy-related penalty of $3,132.
After the dismissal of petitioner Matthew D. Malena,2 the
issues for decision are:
(1) Whether petitioner Paulette A. Malena (petitioner)
received unr…
IRCCourt RulingsOct 19, 2010
…utional right to bring frivolous suits, see Bill
Johnson's Restaurants, Inc. v. NLRB, 461 U.S. 731, 743
* * * (1983). People who wish to express displeasure with
taxes must choose other forums, and there are many
available. * * * [Coleman v. Commissioner, supra at 72.]
In addition to advancing a frivolous or groundless…
T.C. Memo. 2005-5 — Thomas G. Wright and Estate of Rosemary K. Wright, Deceased; Thomas G. Wright, Personal Representative v. Commissioner IRCCourt RulingsJan 13, 2005
…er detriment. Hofstetter v.
Commissioner
, 98 T.C. 695, 700 (1992); Graff v. Commissioner
, 74
T.C. 743, 761 (1980), affd. 673 F.2d 784 (5th Cir. 1982); Megibow
v. Commissioner
, T.C. Memo. 2004-41. The Supreme Court has held
that the Government may not be estopped “on the same terms as any
other litigant.” OPM v. Rich…
IRCCourt RulingsMar 31, 1961related by meaning
ntract” as meaning the entire contract, especially since Congress, when it wished to delineate the annuity feature of the contract, did so explicitly. Although admitting that the interpretation proposed by petitioner is not without merit, we hold that section 72(d) applies only when the entire consideration furnished b…
IRCCourt RulingsJul 8, 1980related by meaning
minations should also be within our jurisdiction. Regardless of the logic of petitioners’ position, we are constrained to deny their motion to vacate. The United States Tax Court has limited jurisdiction. See sec. 7442. Under this jurisdictional umbrella fall generally income, estate, gift, and miscellaneous excise tax…
IRCCourt RulingsApr 2, 2024
…eration-skipping transfer tax payments).
5
or after April 1, 2020, and before July 15, 2020. Id. at 743– 44. Notice
2020- 23 specified, however, that it did not provide relief for the period
for filing a petition if that period expired before April 1, 2020. Id. at 744 .
On September 2, 2020, respondent filed the Motion…
IRCCourt RulingsDec 24, 1985related by meaning
terms of section 1035, and that no gain or loss should be recognized to petitioner by reason of the exchange.
Decision will be entered under Rule 155. All statutory references are to the Internal Revenue Code of 1954 as in effect in the year in issue, and all Rule references are to the Tax Court Rules of Practice and P…
IRCCourt RulingsDec 11, 1997
…income tax:
Year
Deficiency
Section 6662(a)
2
Accuracy-Related Penalty
1991 $46,801 $9,360
1992 104,743 20,949
1993 37,149 7,430
The issues remaining for decision are:
(1) Does $268,027.48 of interest paid by petitioners during
1991 to the F.E. Hickman, DDS Orthodontics, Inc., Profit-Sharing
Plan (Hickman corporation p…
IRCCourt RulingsMay 9, 1988related by meaning
e reasons stated herein, respondent former trustees’ motion to dismiss for lack of jurisdiction will be granted.
An appropriate order will be entered. These cases were assigned pursuant to sec. 7456 (redesignated as sec. 7443A by the Tax Reform Act of 1986, Pub. L. 99-514, sec. 1556, 100 Stat. 2755) and Rule 180. All s…
IRCCourt RulingsJul 29, 1997related by meaning
one taxable year; at
best, petitioner's assertion undermines the characterization of
the 1992 distribution as a lump-sum distribution. That position, however, does not advance petitioner's case.
c. Frozen Deposit Rule
Finally, although it is not clear whether petitioner relies
on the special rule for frozen deposits f…
IRCCourt RulingsJan 2, 2025
…rain
vehicles for their four minor children ; $11,702 for furniture ; $11,916 for
fencing ; and $15,743 for Costco purchases . They also paid $47,822 to the
U.S . Department of the Treasury and made approximately $10,000 in
ATM withdrawals .
Examples of p rofessional and resort-related expenses that
petitioners paid wi…
IRCCourt RulingsApr 22, 2003related by meaning
to section 72(t)(2)(C) for relief.
It does not appear that any of the statutory exceptions to
the application of section 72(t) apply in this case, and petitioner has not suggested otherwise.
- 7 -
The Court concurs in respondent's determination that
petitioner is subject to the 10-percent additional tax on an
early dis…
IRCCourt RulingsMar 6, 2001
…nt.’” Hofstetter v. Commissioner
, 98 T.C. 695, 700 (1992) (quoting Graff v. Commissioner
, 74 T.C.
743, 761 (1980), affd. 673 F.2d 784 (5th Cir. 1982)). The
traditional elements of equitable estoppel--all of which must be
satisfied to invoke the doctrine--are: (1) A false
representation or misleading silence by the pa…
IRCCourt RulingsOct 9, 1997related by meaning
einafter referred to
as the instant case). The instant case is before the Court on
- 3 -
1
All Code and section references are to the Internal Revenue Code in effect for the year at issue. All Rule references are to
the Tax Court Rules of Practice and Procedure.
the parties' cross-motions for partial summary judgment. …
IRCCourt RulingsAug 6, 1996
…le Year. The
$57,139,406 consists of $48,395,987 of contributions to the Six
Large CBA Plans and $8,743,419 to the 19 smaller plans. In
addition, out of the total $96,890,058 deduction claimed by
petitioner in the Current Taxable Year, respondent did not
disallow $3,089,123 of contributions to certain profit-sharing
pl…
IRCCourt RulingsFeb 10, 1997related by meaning
ith respect to our Opinion.
In our Opinion, we held that petitioner may not deduct in a
single taxable year contributions to 29 collectively bargained defined benefit plans made over a period of 20 (in some cases 19)
months. In the Motion petitioner alleges that the Court erred in
that this holding contradicts 20 years…
IRCCourt RulingsFeb 9, 1998
…d Cir. 1977); Kelly v. Commissioner
, T.C.
Memo. 1987-352, affd. without published opinion 858 F.2d 743
(11th Cir. 1988). Petitioner's failure to file a valid tax
return for 1989 was not due to reasonable cause. Rather,
petitioner enclosed a letter with the return that stated he
intentionally did not sign his return ba…
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
75150 (Oct. 28, 2016); PTE 2016-10, 81 FR 75147 (Oct. 28, 2016); PTE 2012-08, 77 FR 19344 (March 30, 2012); PTE 2004-13, 69 FR 54812 (Sept. 10, 2004). Back to Citation
38.
On December 12, 2018, Korea's Seoul High Court for the 7th Criminal Division (the Seoul High Court) reversed the Korean Court's decision and declar…
IRCCourt RulingsSep 21, 2017
…ence providing a sufficient basis for making an estimate. Vanicek v.
Commissioner, 85 T.C. 731, 742-743 (1985). Without such basis, any allowance
would amount to unguided largesse. Williams v. United States, 245 F.2d 559, 560
(5th Cir. 1957).
I. Schedules C
Respondent disallowed all of petitioners' claimed Schedule C d…