IRCCourt RulingsJan 27, 1998related by meaning
e excise tax notwithstanding that
they may have acted innocently or in good faith. Rutland v.
Commissioner
, 89 T.C. 1137, 1146 (1987). In signing the Agreement and Assignment of Accounts Receivable as a corporate
officer, petitioner, along with Mr. Cohen, implemented the
transfer of accounts receivable to the Plan. In…
IRCCourt RulingsJun 1, 2009related by meaning
account of the employee's disability ; (4) as part of a serie s
e for life ; (5) to a
employee after separation from service after attainment of ag A substantially equal periodic payments m
55 ; (6) as dividends paid with, respect to corporate stoc k
described in section 404(k) ; (7) to an employee for medica l
or (8)…
IRCCourt RulingsJun 10, 2002related by meaning
T.C. Summary Opinion 2002-66
UNITED STATES TAX COURT
MILAGROS Z. GUECO, Petitioner v
.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 545-01S. Filed June 10, 2002.
Milagros Z. Gueco, pro se.
James N. Beyer
, for respondent.
DINAN, Special Trial Judge
: This case was heard pursuant to
the provisions of section …
IRCCourt RulingsJul 13, 2010related by meaning
.a distribution
of $6,277 from a qualified retirement . plan during~the'2001 tax
year and that .she was under the age of 59-l/2 , at "the time of the distribution . . At trial Ms . O'Boyle presented no evidence that
she qualified for any of the . exceptions in section 72(t)(2) .
Accordingly ; we hold that Ms .-O'Boyle…
IRCCourt RulingsSep 18, 1996related by meaning
…973 imposes a 6-percent excise tax on excess
contributions to individual retirement accounts. Sec. 4980A
imposes a 15-percent excise tax on excess distributions from
qualified retirement plans. Both of these taxes are included
within ch. 43 of the I.R.C. They are therefore subject to the
deficiency procedures set forth…
IRCCourt RulingsJan 26, 1984related by meaning
shall not apply to amounts described in clause (ii) of subparagraph (A) of section 72(mX5) to the extent that section 72(mX5) applies to such amounts. (J) Unrealized appreciation op employer securities. — In the case of any distribution including securities of the employer corporation which, without regard to the requi…
IRCCourt RulingsMar 31, 1997
…able certainty
whether or not reimbursement will be received. Marine v.
Commissioner
, 92 T.C. 958, 980 (1989), affd without published
opinion 921 F.2d 280 (9th Cir. 1991); sec. 1.165-1(d)(2)(i), (3),
Income Tax Regs. Whether a reasonable prospect of recovery
exists is a question of fact. Sec. 1.165-1(d)(2)(i), Income …
IRCCourt RulingsJun 18, 2003related by meaning
ly to
assist taxpayers in filing tax returns; neither the Commissioner
nor this Court is bound by such guidance where it is contrary to
(continued...) taxpayer’s gross income generally are not part of the taxpayer’s
investment in the contract, sec. 72(f). Therefore, in the
context of this case, a taxpayer’s investment …
IRCCourt RulingsDec 18, 2012related by meaning
ly for delay, (2) a taxpayer's position is frivolous or groundless, or (3) a
taxpayer unreasonably failed to pursue available administrative remedies. Section 6673 serves in part as "a penalty statute designed to deter taxpayers from
bringing frivolous or dilatory suits". Sauers v. Commissioner, 771 F.2d 64, 68
(3d Cir…
117 T.C. No. 19 — The Board of Trustees of the Sheet Metal Workers' National Pension Fund, In Its Capacity As Plan Administrator v. Commissioner IRCCourt RulingsDec 4, 2001
…xpected by
the employee to be available upon retirement. In Hickey v.
Chicago Truck Drivers Union
, 980 F.2d 465 (7th Cir. 1992), for
example, a union’s defined benefit pension plan was amended to
- 18 -
add a COLA to all retirement benefits. In 1987, the plan was
terminated without provision for the funding of future …
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…
IRCCourt RulingsMar 24, 1980
…972 679,650.22
1973 920,490.00
1974 1,269,506.00 $176,555 $135,399.72
1975 1,021,321.00 127,951 137,980.08
The only issue to be decided is whether the amounts paid by Home Interiors & Gifts, Inc., to three of its officers, constituted reasonable compensation for services rendered within the meaning of section 162(a)(1)…
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
…pal issue presented is whether the petitioner
corporation's $171,476 "employer reversion", section
4980(c)(2)(A), which is concededly includable in its gross
income, may be offset by a section 162(a)(1) deduction in the
same amount for compensation paid to its sole stockholderemployee. The facts have been stipulated.
I…
73 T.C. 758 — Tionesta Sand & Gravel, Inc. v. Commissioner IRCCourt RulingsJan 31, 1980
… of the trust, Joe F. Sherman and Joseph J. Sherman, owned 430 and 420 shares, respectively, of the 980 outstanding shares of petitioner. These individuals were, respectively, petitioner’s treasurer and president. The remaining 130 shares were owned by seven shareholders, with none holding more than 40 shares.
IRCCourt RulingsFeb 25, 1959
…h payment for the stock.
On May 5, 1955, pursuant to the offer of March 28, 1955, Lee purchased 865,980 common capital shares of Waterman at $48 per share. The block of stock constituted over 99 per cent of Waterman’s outstanding common stock. The total purchase price of some $41,567,040 was borrowed by Lee from McLean…
IRCCourt RulingsDec 16, 1998related by meaning
ble person could have concluded that the
filing of an excise tax return was not required because
the transfer was not a prohibited transaction, or, if it was, that it had been corrected.
Andrew I. Panken
and Robert A. DeVellis
, for petitioner.
Catherine R. Chastanet
, for respondent.
MEMORANDUM OPINION
LARO, Judge
: T…
IRCCourt RulingsJun 25, 1981
…hange for a stated consideration in money or money’s worth.” Freeland v. Commissioner, 74 T.C. 970, 980 (1980). Also, in focusing on the rights petitioner relinquished (to share in the management and control, the income from, and the proceeds of disposition) we note that the courts have tended to reject technicalities …
T.D. 9176 — Final regulations under section 411 of the Code reflect the addition of section 411(d)(6)(E) by the Economic Growth and Tax Relief Reconciliation Act of 2001 (… IRCTreasury DecisionsMar 7, 2005related by meaning
Rev. Proc. 2000-20 modified and superseded. Rev. Procs. 2005-6 and 2005-8 and Announcement 2001-77 modified.
EXEMPT ORGANIZATIONS
T.D. 9175 T.D. 9175 Temporary and proposed regulations under sections 6011, 6033, and 6037 of the Code affect certain corporations and organizations filing returns. These regulations requir…
PLR 202550025 — Tax on Reversion of Qualified Plan Assets to Employer IRCPrivate Letter RulingsDec 12, 2025
…Thus, pursuant to this
provision, Plan B and Plan C may be treated as one plan pursuant to section
4980(d)(5)(D), and thus constitute a single qualified replacement plan for purpo ses of
section 4980(d)(2) with respect to Plan A.
With respect to your second request, Taxpayer represents that the direct transfers of
asse…
IRCCourt RulingsJan 2, 2020related by meaning
n 72(t) imposes an additional 10% tax on early distributions from a
qualified retirement plan, including an IRA, made to a taxpayer before she attains the age of 59½. See secs. 72(t)(1), (2)(A)(i), 4974(c)(4). Mrs. Gebman had not
attained the age of 59½ when she received the distributions at issue. The IRA
distribution…