IRCCourt RulingsMar 11, 2020related by meaning
little more than guesswork and failed to satisfy the strict substantiation
requirements for vehicle expenses prescribed in section 274(d) and related regulations. As noted above the Court may not use the rule established in Cohan
v. Commissioner, 39 F.2d at 543-544, to estimate expenses covered by section
274(d). Cons…
IRCCourt RulingsOct 11, 1995related by meaning
tion that petitioners
are liable for the 10-percent additional tax imposed by section
72(t).
Section 72(t) provides for a 10-percent additional tax on early distributions from qualified retirement plans. Paragraph
(1), which imposes the tax, provides in relevant part as follows:
(1) Imposition of Additional Tax.--If an…
IRCCourt RulingsOct 11, 1957related by meaning
s that its enforcement would amount to a deprivation of property without due process of law as required under the Fifth Amendment to the Constitution. We have carefully considered the decision of the Seventh Circuit in the Kohl case, and its application as a precedent in the problem which confronts us. With all due res…
IRCCourt RulingsAug 8, 1996related by meaning
alty equal to 20
percent of the portion of the underpayment of income tax that is
attributable to negligence. Negligence includes the failure to
- 7 - make a reasonable attempt to comply with the law and disregard of
the rules and regulations includes any "careless, reckless, or
intentional disregard." Sec. 6662(c). Wh…
IRCCourt RulingsJan 12, 1998related by meaning
ime of his distribution, we hold that
he is not liable for the sec. 72(t) additional tax.
In the notice of deficiency, there was no determination that petitioners Robert C. and Mary D. Borman were liable for the sec.
72(t) additional tax, but on brief, respondent made such an
assertion. See sec. 6214(c).
10-percent add…
90 FR 23303 — Request for Information Regarding the Prescription Drug Machine-Readable File Requirement in the Transparency in Coverage Final Rule IRCProposed Rules (FR)Proposed Jun 2, 2025
…tiated rate,
see26 CFR 54.9815-2715A1(a)(2)(xvi), 29 CFR 2590.715-2715A1(a)(2)(xvi), and 45 CFR 147.210(a)(2)(xvi).
Back to Citation
18.
26 CFR 54.9815-2715A3(b)(1)(iii)(C), 29 CFR 2590.715-2715A3(b)(1)(iii)(C), and 45 CFR 147.212(b)(1)(iii)(C).
Back to Citation
19.
For a definition of historical net price,
see26 CFR…
IRCCourt RulingsFeb 26, 1964related by meaning
It follows, therefore, that the amounts received by petitioners from the special fund are not excludable from gross income under either section 104 or section 105 unless they are covered by subsection 105(b), subsection 105(c), or subsection 105(d). Only the last subsection (105(d)), to which petitioners make no refere…
IRCCourt RulingsAug 12, 1998
…he special nature and
- 29 -
12
The quoted material from H. Rept. 93-533, at 12 (1973),
1974-3 C.B. 210, 221, describes H.R. 2, 93d Cong., 2d Sess. sec.
111(b)(1) (1974) as reported by the House Committee on Education
and Labor, on Oct. 2, 1973, which became ERISA sec. 404(a)(1).
purposes of employee benefit plans inte…
IRCCourt RulingsMar 12, 2008
… 209,066 17,725 226,79 1
13 226,791 25,000 201,791 17,143 218,93 5
14 218,935 25,000 193,935 16,515 210,44 9
15 210,449 25,000 185,449 15,836 201,28 5
16 201,285 25,000 176,285 15,103 191,38 8
17 191,388 25,000 166,388 14,311 180,699
-11 -
18 180,699 25,000 155,699 13,456 169,15 5
19 169,155 25,000 144,155 12,532 156,6…
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…
IRCCourt RulingsNov 5, 1999
…rning the plan to the
- 18 -
13 The quoted material from H. Rept. 93-533, at 12 (1973),
1974-3 C.B. 210, 221, describes H.R. 2, 93d Cong., 2d Sess. sec.
111(b)(1) (1974), as reported by the House Committee on Education
and Labor, on Oct. 2, 1973, which became ERISA sec. 404(a)(1).
extent they are consistent with the pr…
IRCCourt RulingsApr 2, 2024related by meaning
…never ‘justify departing from the statute’s clear text. ’” (quoting Pereira v. Sessions, 138 S. Ct. 2105,
2118 (2018)); Chevron , 467 U.S. at 842– 43 (“If the intent of Congress is
clear, that is the end of the matter; for the court, as well as the agency,
must give effect to the unambiguously expressed intent of Congr…
IRCCourt RulingsDec 3, 2008
…of the burden of proof is
immaterial . See Martin Ice Cream Co . v . Commissioner , 110 T .C .
189, 210 n .16 (1998) .
- 9 - We note that respondent, in an unconvincing attempt to
salvage his "form over substance" contention, cites
Usher v .
Commissioner , 45 T .C . 205 (1965) . Usher is distinguishable . In
Usher
, th…
T.C. Memo. 2024-24 — James Elbert Aldridge, Jr. & Shirley Lorraine Aldridge v. Commissioner IRCCourt RulingsFeb 21, 2024
…vidence and reasonable inferences drawn from the facts. Niedringhaus v. Commissioner , 99 T.C.
202, 210 ( 1992); Benavides & Co., P.C. v. Commissioner, T.C. Memo.
2019- 115, at *34. The taxpayers’ entire course of conduct may be
indicative of fraudulent intent. Niedringhaus , 99 T.C. at 210.
Circumstances that may indi…
IRCCourt RulingsFeb 6, 1992related by meaning
e original intent of Congress, as set forth in the legislative history of the statute and its various amendments.
Validity of the Temporary Regulation We have previously held that temporary regulations are entitled to the same weight as final regulations. Nissho Iwai American Corp. v. Commissioner, 89 T.C. 765 (1987); …
IRCCourt RulingsApr 18, 1960related by meaning
Section 403(a) of the Internal Revenue Code of 1954 is, in the main, a reenactment of section 22(b) (2) (B) of the Internal Revenue Code of 1939. The latter was enacted by section 162 of the Revenue Act of 1942, which also amended section 165 and section 23 (p) of the 1939 Code. The congressional committee reports deal…
IRCCourt RulingsOct 19, 2010related by meaning
tter of local law and a
State court's determination with regards to such assignment is
not reviewable by this Court);9 Chambers v. Commissioner, supra 9This Court recognizes that in Commissioner v. Estate of
Bosch, 387 U.S. 456, 465 (1967), the Court held that where the
Federal estate tax liability turns upon the chara…
IRCCourt RulingsNov 26, 1985
…ept. 93-807, at 126, 1974-3 C.B. (Supp.) 236, 361; S. Rept. 93-383, at 131, 1974-3 C.B. (Supp.) 80, 210. Under the statutory framework thus established, individuals could obtain a deduction for amounts contributed to individual retirement accounts, individual retirement annuities and individual retirement bonds, and ea…
IRCCourt RulingsApr 2, 2020
…ed the Goldbergs a notice that it had
assessed them interest for tax year 2004 in the amount of $20,210.27.
On August 23, 2011, the Goldbergs paid $50,000 to the IRS. The $50,000
payment was applied in part against the non-interest component of their 2004 tax
liability (and completely eliminated the non-interest compon…
IRCCourt RulingsAug 12, 1980related by meaning
.
Unless indicated otherwise, all section references are to sections of the Internal Revenue Code of 1954 as in effect for the taxable years in issue. SEC. 4973. TAX ON EXCESS CONTRIBUTIONS TO INDIVIDUAL RETIREMENT ACCOUNTS, CERTAIN SECTION 403(b) CONTRACTS, CERTAIN INDIVIDUAL RETIREMENT ANNUITIES, AND CERTAIN RETIREME…