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61. T.C. Summary Opinion 2003-41 — Larry Joe Mills v. Commissioner
    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…
62. T.C. Summary Opinion 2003-83 — Manuel Francisco Palomo & Jane Lyon Potter v. Commissioner
    IRCCourt RulingsJun 24, 2003related by meaning
    tract unless such amounts are specifically excluded from gross income under other provisions of chapter 1 of the Code. The burden is on petitioners to demonstrate that the payments in question fall into a specific statutory exclusion. See Commissioner v. Glenshaw Glass Co. , 348 U.S. at 429-431. Under section 72(t), a …
63. T.C. Memo. 2015-61 — Kevin R. Gurule & Dawn M. Gurule v. Commissioner
    IRCCourt RulingsMar 31, 2015
    …t of medical expenses that he had claimed), aff'd in relevant part sub nom. Keller v. Commissioner, 568 F.3d 710, 718 (9th Cir. 2009). Petitioners conceded this issue at trial. - 27 - [*27] Atchison v. Commissioner, T.C. Memo. 2009-8, 97 T.C.M. (CCH) 1034, 1036 (2009). Petitioners do not challenge the existence or amou…
64. T.C. Summary Opinion 2004-100 — Kurt Steven & Juanita Fay Urban v. Commissioner
    IRCCourt RulingsJul 27, 2004related by meaning
    7 (1989); Estate of Rosenberg v. Commissioner , 73 T.C. 1014, 1017-1018 (1980). Although we acknowledge that petitioners used the IRA distribution for laudable purposes, absent some constitutional defect we are constrained to apply the law as written, see Estate of Cowser v. Commissioner , 736 F.2d 1168, 1171-1174 (7th…
65. 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…
66. T.C. Summary Opinion 2003-45 — Nick Allan Palermino v. Commissioner
    IRCCourt RulingsApr 28, 2003
    … court, and this opinion should not be cited as authority. Respondent determined a deficiency of $1,568 in petitioner’s - 2 - 2 Respondent did not assess the 10-percent addition to tax for early withdrawals from qualified retirement plans. See sec. 72(t)(1) and (2)(A). For distributions made on account of a levy under …
67. T.C. Memo. 2007-30 — Estate of Carol Andrews, Deceased, Robert Andrews, Special Administrator, and Robert Andrews v. Commissioner
    IRCCourt RulingsFeb 7, 2007
    … their investment in the partnerships; FPAAs were - 25 - 13 Bales v. Commissioner , T.C. Memo. 1989-568, involved deficiencies determined against various investors in several Hoyt partnerships. This Court found in favor of the investors on several issues, stating that “the transaction in issue should be respected for F…
68. 115 T.C. No. 19 — Flahertys Arden Bowl, Inc. v. Commissioner
    IRCCourt RulingsSep 25, 2000related by meaning
    lity for the excise taxes and that petitioner was liable for the additions to tax under section 6651(a)(1). Discussion I. Liability Under Section 4975 A. The Statutes Section 4975 was added to the Internal Revenue Code by title II of the Employee Retirement Income Security Act of 1974 (ERISA), Pub. L. 93-406, sec. 2003…
69. T.C. Memo. 2011-105 — Mark E. Warmoth v. Commissioner
    IRCCourt RulingsMay 19, 2011
    …,354 3,524,183 2004 Leading Edge $167,006 ($390,004) ($222,998) Weekend Warrior 400,168 1,968,331 1,568,163 In the Forms 886-A, Explanation of Items, attached to Mr. Warmoth's notices of deficiency, respondent then stated that (1) "Leading Edge Design, Inc. should be disregarded for Federal income tax purposes as Leadi…
70. 150 T.C. No. 7 — Celia Mazzei v. Commissioner
    IRCCourt RulingsMar 5, 2018
    …r the ESOP owned the shares in substance. See also Cottage Sav. Assoc. v. Commissioner, 499 U.S. at 568 ("[T]here is no contention that the transactions in this case were not conducted at arm's length, or that Cottage Savings retained d_e facto ownership of the participation interests[.]"). -68IX. Conclusion
71. 105 T.C. 141; 105 T.C. No. 12 — Brotman v. Commissioner
    IRCCourt RulingsAug 24, 1995related by meaning
    spouse, child, or other dependent of a participant, and (ii) is made pursuant to a State domestic relations law (including a community property law). “The reason that many ERISA sections have such counterparts in the IRC is that, to encourage employers to establish pension plans, Congress provides favorable tax treatme…
72. 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 - […
73. T.C. Summary Opinion 2020-14 — Dale W. Laue & Alicia Laue v. Commissioner
    IRCCourt RulingsApr 20, 2020related by meaning
    om qualified retirement plans unless one of the exceptions set forth in section 72(t)(2) applies. Section 72(t) provides in pertinent part as follows: SEC. 72(t). 10-Percent Additional Tax on Early Distributions from Qualified Retirement Plans.-- (1) Imposition of additional tax.--If any taxpayer receives any amount fr…
74. T.C. Memo. 2014-80 — Michael H. Boulware v. Commissioner
    IRCCourt RulingsMay 6, 2014
    …d to the administrative record (i.e., the administrative record rule). S_ee Keller v. Commissioner, 568 F.3d 710, 718 (9th Cir. 2009), aff'g T.C. Memo. 2006-166.4 4Recently, the Court of Appeals for the District of Columbia Circuit held in Byers v. Commissioner, 740 F.3d 668, 675-677 (D.C. Cir. 2014), aff'g T.C. Memo. …
75. 125 T.C. No. 5 — 100 Oak Street Corporation v. Commissioner
    IRCCourt RulingsSep 15, 2005related by meaning
    125 T.C. No. 5 UNITED STATES TAX COURT SERVICE EMPLOYEES INTERNATIONAL UNION, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, . Respondent 100 OAK STREET CORPbRATION, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 8398-04L, 8399-04L. Filed September 15, 200 . saan. Ps are qualified labor. organi…
76. T.C. Memo. 2010-115 — Jerry L. Keenan & Cynthia S. Keenan v. Commissioner
    IRCCourt RulingsMay 3, 2018
    …missioner, 808 F.3d 657, 669 (5th Cir. 2015) (quoting Klamath Strategic Inv. Fund v. United States, 568 F.3d 537, 548 (5th Cir. 2009) (affirming section 1.6664-4(b)(1), Income Tax Regs.)), § T.C. Memo. 2014-227. We examine this factor along with - 16 - [*16] [a]dditional "[c]ircumstances that may indicate reasonable ca…
77. 97 T.C. 51; 97 T.C. No. 4 — Darby v. Commissioner
    IRCCourt RulingsJul 24, 1991related by meaning
    tever source derived, including (but not limited to) the following items: ******* (11) Pensions; SEC. 451. GENERAL RULE FOR TAXABLE YEAR OF INCLUSION. (a) General Rule. — The amount of any item of gross income shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under th…
78. T.C. Memo. 2022-3 — John M. Larson v. Commissioner
    IRCCourt RulingsFeb 2, 2022
    … whether there was a sufficient likelihood that the earnout r estrictions would be enforced. Id. at 568. Finding that an employee’s inability or disinclination to work for the agreed-upon term was not a remote event unlikely to occur, the Court held that the relevant earnout restriction could give rise to a substan tia…
79. T.C. Summary Opinion 2004-57 — Bernadette Williams v. Commissioner
    IRCCourt RulingsMay 13, 2004related by meaning
    ssued to petitioner by USPS. Petitioner filed a timely 2000 Federal income tax return. In addition to other items, the distribution is included in the income reported on that return. The Federal income tax reported on her 2000 return does not include the additional tax imposed by section 72(t). In the notice of deficie…
80. 101 T.C. 215; 101 T.C. No. 15 — Clark v. Comm'r
    IRCCourt RulingsSep 14, 1993related by meaning
    on in Bullard, was — for the reasons stated earlier — not a lump sum distribution and thus was not eligible for lump sum averaging in the first place. The Commissioner’s determination of additional tax under section 72(t) is sustained. Decision will be entered for respondent. Except as otherwise indicated, all section …