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81. T.C. Memo. 1999-369 — Westchester Plastic Surgical Associates, P.C. v. Commissioner
    IRCCourt RulingsNov 5, 1999
    …v. Commissioner , T.C. Memo. 1994-606; see also Calfee, Halter & Griswold v. Commissioner , 88 T.C. 641, 652 (1987) ("the standards of title I and title II [of ERISA] were closely coordinated by Congress specifically to develop a unified set of rules"). ERISA section 404(a)(1) requires a plan fiduciary to discharge his…
82. 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 …
83. Notice 2024-55 — Certain Exceptions to the 10 Percent Additional Tax Under Code Section 72(t)
    IRCNoticesJul 8, 2024related by meaning
    nal revenue law. Generally, tax returns and tax return information are confidential, as required by section 6103 of the Code. VI. DRAFTING INFORMATION The principal authors of this notice are Naomi Lehr, Vernon Carter, and Pamela R. Kinard of the Office of Associate Chief Counsel (Employee Benefits, Exempt Organization…
84. 92 T.C. 376; 92 T.C. No. 24 — Foil v. Commissioner
    IRCCourt RulingsFeb 22, 1989related by meaning
    n from sec. 457 altogether. We note the irony that, on answering brief in another issue in the instant case, petitioners make the following statement: It is improper to resort to legislative history where the statute is clear. U.S. v. Prudential Ins. Co. of America, 461 F.2d 280 (5th Cir. 1972); U.S. v. Marett, 325 F.2…
85. T.C. Memo. 1995-575 — Winthrop B. & Sally L. Orgera v. Commissioner
    IRCCourt RulingsDec 4, 1995
    …the cash distribution himself and set up his own IRA. On August 17, 1990, petitioner deposited $239,641.91 in money market account No. 9 at the credit union, and he retained the $7,005.77 difference (between the distribution and the deposit). On February 20, 1992, petitioners withdrew $139,126 from account No. 9 and de…
86. U.S. Tax Court — Cynthia M. Martinez v. Commissioner
    IRCCourt RulingsDec 29, 2008
    …ight to apply payments in the manner it chooses ."' Isley v . United States , 272 Fed . Appx . 640, 641 (9th Cir . 2008) (quoting United States v . Plummer 174 Bankr . 284, 286 (Bankr . C .D . Cal . 1992)) . Nonetheless, in reexamining the table supra page 5, we note that even accepting respondent's application as give…
87. T.C. Memo. 2003-32 — Howard E. Clendenen v. Commissioner
    IRCCourt RulingsFeb 12, 2003related by meaning
    (hereinafter the CONTROLLING CASE). 3. All issues involving the above adjustments shall be resolved as if the petitioner in this case were the same as the taxpayer in the CONTROLLING CASE. Both stipulations to be bound also provided: 4. A decision shall be submitted in this case when the decision in the CONTROLLING CAS…
88. T.C. Memo. 2012-300 — Churchill, LTD. Employee Stock Ownership Plan & Trust v. Commissioner
    IRCCourt RulingsOct 25, 2012
    …ified. The standard for our review was set forth in Buzzetta Constr. Corp. v. Commissioner, 92 T.C. 641, 648 (1989), as follows: When reviewing discretionary administrative acts, however, this Court may not substitute its judgment for that of the Commissioner. The exercise of discretionary power will not be disturbed u…
89. T.C. Summary Opinion 2017-51 — Arthur Dulik, Jr. & Ellen B. Kugler Dulik v. Commissioner
    IRCCourt RulingsJul 13, 2017related by meaning
    missioner, T.C. Memo. 1995-12, 1995 WL 9151, at *5. There is nothing in the record indicating that Mr. Dulik commenced any business activity as a sole proprietor, nor is it clear to what extent, if any, AED conducted business activity after its incorporation. 6Petitioners provided substantiation for legal fees totaling…
90. T.C. Summary Opinion 2005-71 — Vincent A. Suarez, Jr. & Esther Suarez v. Commissioner
    IRCCourt RulingsJun 6, 2005related by meaning
    a matter of legislative grace, and the burden of clearly showing the right to the claimed deduction is on the taxpayer. INDOPCO, Inc. v. Commissioner , 503 U.S. 79, 84 (1992). We are bound by the Internal Revenue Code, and it is within the province of the legislature to decide the circumstances of inclusion, deductions…
91. T.C. Memo. 1996-502 — Elaine S. Bennett v. Commissioner
    IRCCourt RulingsNov 7, 1996
    …f $158. Accordingly, petitioner reported total retirement distributions in the gross amount of $348,641 (i.e., $348,483 + $158) and in the taxable amount of $327,814 (i.e., $327,656 + $158). The parties have stipulated that the $158 distribution, as well as the Transfer Refund (in the amount of $348,483), was received …
92. T.C. Memo. 1998-42 — William C. Reichenbach v. Commissioner
    IRCCourt RulingsFeb 4, 1998related by meaning
    ng warned by the Court and after having received notice from the Court in a prior case. 6 On the basis of the record, we conclude that the proceedings herein were instituted primarily for delay and that petitioner's position is both frivolous and groundless. Accordingly, we exercise our discretion and award a penalty t…
93. T.C. Memo. 2020-5 — Ed Thielking, Inc. v. Commissioner
    IRCCourt RulingsJan 9, 2020
    …ion was unreasonable, arbitrary, or capricious. See Buzzetta Constr. Corp. v. Commissioner, 92 T.C. 641, 648 (1989). Petitioner has failed to do so. Before we reach the merits of respondent's determination to disqualify the
94. 106 T.C. No. 3 — James H. & Josephine A. Swanson v. Commissioner
    IRCCourt RulingsFeb 14, 1996related by meaning
    er 8,250-8,250 IRA-1st Fla. 2,500 2,500 - IRA-1st Fla. 5,000 5,000 - 401-K Plan 45,000 45,000 - Condo 185,000-185,000 Industrial Bldg. 107,500-107,500 Industrial Bldg. 260,000-260,000 Industrial Vacant 65,000 65,000 - Stock - HSSTC 59,200 59,200 - Prestige 23,500-23,500 Breck 25,000 25,000 - West Coast 25,000 25,000 - …