IRCCourt RulingsDec 22, 1997
… herein, respondent disallowed as excess
contributions for 1987, 1988, and 1989, respectively, $177,505,
$177,760, and $175,454 of the total claimed deductions relating
to the plans.
Also, for 1988, 1989, and 1990, respondent determined that
petitioner was liable for excise taxes under section 4972 with
regard to the p…
IRCCourt RulingsMar 31, 1997related by meaning
ble. Zmuda v. Commissioner
, 79
T.C. 714, 727 (1982), affd. 731 F.2d 1417 (9th Cir. 1984).
In this instance, petitioner readily admits that A Atlantic is presently holding his property, and that there is a
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7
For the purposes of sec. 72(t), the term "employee" also
refers to participants in individual retirement a…
IRCCourt RulingsJan 21, 1997
…On their 1992 Federal income tax return (the 1992 return),
petitioners reported gross income of $73,505.46 and adjusted
gross income of $71,161.85. The income so reported consists
primarily of petitioner's salary as a Nebraska district court
judge. Mary Fuhrman was unemployed and received no compensation
during 1992. O…
IRCCourt RulingsJan 27, 1998related by meaning
articipants, Harold Breslow and Robert Levine,
received their full benefit and petitioner signed an irrevocable
waiver of his rights to Plan benefits. We reject petitioner's argument. Examining the record, we
find no documentary evidence that all rank and file employees
were paid their full vested interest, especially …
IRCCourt RulingsJul 12, 2012
…3. $46 as taxable interest
4. a capital loss of $3,000;
5. 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 …
109 T.C. No. 21 — Lakewood Associates; Robert G. Moore, Tax Matters Partner v. Commissioner IRCCourt RulingsDec 29, 1997
…condemnation of
property under eminent domain powers. See Lucas v. South
Carolina Coastal Council
, 505 U.S. 1003 (1992); United States v.
Riverside Bayview Homes, Inc.
, 474 U.S. 121 (1985); Agins v. City
of Tiburon
, 447 U.S. 255 (1980). Condemnation requires property
to be taken against the taxpayer's will by a publ…
IRCCourt RulingsApr 20, 2017
… "the term 'equity denotes the spirit and habit
of fairness and justness.'" Groseclose, 809 F.2d at 505 (quoting Gilles v. Dep't of
Human Res. Dev., 521 P.2d 110, 116 n.10 (Cal. 1974) (quoting Black's Law
Dictionary 634 (4th ed. 1957)). It further observed that "[t]he term conscience
means 'the sense of right or wrong …
IRCCourt RulingsMar 20, 1997related by meaning
but did not." Central Tablet Manufacturing
Co. v. United States
, 417 U.S. 673, 690 (1974); Commissioner v.
National Alfalfa Dehydrating & Milling Co. , 417 U.S. 134, 148-149
(1974). It would be quite intolerable to pyramid the existing
complexities of tax law by a rule that the tax shall be that
resulting from the for…
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
…gated and decided in a prior suit.
Id.
at 326 n.5; United States v. Intl. Bldg. Co.
, 345 U.S. 502,
505 (1953); Meier v. Commissioner
, supra
at 282. In Megibow v.
Commissioner
, supra
, this Court recently observed:
From a legal standpoint, income taxes are levied
on an annual basis, such that each year represents a
n…
IRCCourt RulingsFeb 15, 2002related by meaning
tioner’s 1998
Federal income tax and an addition to tax under section
6651(a)(1) of $3,433 and $321, respectively. After concessions
by the parties,
2 the issues are (1) whether petitioner is liable
for the additional tax under section 72(t) and (2) whether
petitioner is liable for the addition to tax under section
665…
IRCCourt RulingsJul 14, 2005related by meaning
48 F.2d 306, 310 (9th Cir.
1945), affg. a Memorandum Opinion of this Court dated Jan. 5,
1943; Standard Knitting Mills, Inc. v. Commissioner, 141 F.2d 195, 198-199 (6th Cir. 1944), affg. 47 B.T.A. 295 (1942).
Generally, new issues may not be raised in a Rule 155
computation. Harris v. Commissioner, 99 T.C. 121, 123 (19…
IRCCourt RulingsMay 19, 1986related by meaning
4); Estate of English v. Commissioner, T.C. Memo. 1985-549, 50 T.C.M. 1362, 54 P-H Memo T.C. par. 85,549.
Decision will he entered for the respondent. While the constitutional issue was the only argument raised in the petition with respect to the dispute over inclusion of the lump-sum payment, we deal also with the two…
IRCCourt RulingsMay 17, 2001
…lated penalty imposed by section 6662(a). See Rule 142(a); Tweeddale v. Commissioner
, 92
T.C. 501, 505 (1989).
Petitioner argues that he relied on the 1997 version of IRS
Publication 17 (Tax Guide for Individuals). The section
regarding loans is as follows:
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3
The Rule 155 computation will take into account a For…
IRCCourt RulingsAug 6, 1996
…909,812,563 725,079,000
UFCW M W Pension Plan 22,500,268 21,053,791 Western Conf./Teamsters 647,156,505 500,960,586
*Actual contributions during the plan year as recorded on
the Form 5500, Schedule B.
The amount of total employer contributions actually paid to
each of the CBA Plans based on hours and weeks worked by el…
IRCCourt RulingsSep 23, 2014related by meaning
contributions would have been taxable. CSRS does not provide for the
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acceptance of rollovers. Because the payment was not accepted as a pretax contribution, it is taxable. See Montgomery, 18 F.3d at 500. Therefore, section
408(d)(3) does not apply and the $17,832 petitioner withdrew from his Fidelity
IRA must b…