Case law

Altera Corp. v. Comm'r

145 T.C. 91 · United States Tax Court · Jul 27, 2015

Commissioner, 125 T.C. 37 (2005), aff ’d, 598 F.3d 1191 (9th Cir. 2010), we held that, under the 1995 cost-sharing regulations, controlled entities entering into qualified cost-sharing agreements (QCSAs) need not share … (final rule)—which the Department of the Treasury (Treasury) issued in 2003 and which requires participants in qualified cost-sharing arrangements (QCSAs) to share stock- based compensation costs to achieve an arm’s-length

Zips v. Commissioner

38 T.C. 620 · United States Tax Court · Aug 14, 1962

In the first place, such incompetency was judicially determined by the United States District Court in the action which George’s fiduciary filed for the specific purpose of establishing such incompetency as a basis for recovering … been too frequently recognized since its first appearance in the Revenue Act of 19135 to say now that it adds nothing to the meaning of “gross income.” ******* Here we have instances of undeniable accessions to wealth, clearly

Harrold v. Commissioner

61 T.C.M. 2925 · United States Tax Court · Jun 17, 1991

. *320 On February 6, 1980, petitioner executed a document, purporting to establish a trust, which he purchased from Mr. McBrearty and Mr. McCarty. … The record establishes that the major asset of the Zibiz Trust was the 4,200 shares of Doornfontein Gold Mining Company stock.

Palm Beach Aero Corp. v. Commissioner

17 T.C. 1169 · United States Tax Court · Jan 15, 1952

All of petitioner's stockholders became active in that program since they operated private aircraft and were qualified in aviation. … allocate gross income or deductions between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly

Lily Hilda Soltani-Amadi & Bahman Justin Amadi v. Commissioner

2019 T.C. Summary Opinion 19 · United States Tax Court · Aug 8, 2019

Such an evidentiary foundation exists in the present case, as the record clearly demonstrates that Ms. … Thus, the section 401(k) retirement plan established by the State of New York for the benefit of its employees such as Ms.

Chai v. Comm'r

109 T.C.M. 1206 · United States Tax Court · Mar 11, 2015

Contrary to petitioner’s assertions, only the Department of Justice can grant immunity. See 18 U.S.C. sec. 6003 (2012). … Del Bove’s emails clearly explained how Delta intended to characterize the payment.

Graham v. Commissioner

82 T.C. 299 · United States Tax Court · Feb 27, 1984

Huyett III, approved the granting of immunity to petitioner Thomas A. Graham in connection with his testimony before the October 25, 1973, grand jury. … Thus, any disclosure to Internal Revenue agents, special agents, or other personnel for civil purposes is now clearly limited to disclosure under court order under (C)(i) upon a showing of "particularized need.”

Plank v. Commissioner

65 T.C.M. 2798 · United States Tax Court · May 25, 1993

Petitioner bears the burden of establishing that each of the requirements of section 6013(e) has been satisfied. Purcell v. Commissioner , 826 F.2d at 473. The requirements of section 6013(e) are conjunctive. … Thus, petitioner clearly knew or had reason to know of the substantial understatement on the return. She therefore has not satisfied the requirements of section 6013(e)(1)(C). See .

D. J. Powers Co. v. Commissioner

42 T.C.M. 1524 · United States Tax Court · Oct 26, 1981

The parties to the agreement testified that they intended to create a present interest even though the agreement did not bear any indication of establishing one. … Clearly, petitioner was on notice that a determination letter should have been promptly sought after it adopted the plan.

Harmont Plaza, Inc. v. Commissioner

64 T.C. 632 · United States Tax Court · Jul 24, 1975

If Sears had remained primary obligor, it would clearly have been an interested party with respect to the indemnification limitation in paragraph 1; but Sears was not a party to that agreement. … It would naturally take a few years to establish in full working order a system of such magnitude * * * [ 1 T.C. at 470-471 .]

Mount v. Commissioner

57 T.C.M. 1188 · United States Tax Court · Aug 7, 1989

Section 911(d)(1) defines a qualified individual as: an individual whose tax home is in a foreign country and who is -- (A) a citizen of the United States and establishes to the satisfaction of the Secretary that he has been … While an exact definition of "abode" depends upon the context in which the word is used, it clearly does not mean one's principal place of business.

Cottle v. Commissioner

89 T.C. 467 · United States Tax Court · Sep 9, 1987

Cottle was clearly in a trade or business, and was clearly active in that trade or business. … The record clearly established that each of the partnerships was in financial trouble and suffered from a severe cash-flow problem.

Estate of Du Pont v. Commissioner

63 T.C. 746 · United States Tax Court · Mar 31, 1975

trustees are required to deliver the Hopeton voting shares free of trust “unto such of the Trustor’s descendants then living as a majority of the then acting Trustees, in their uncontrolled discretion, shall deem to be best qualified … Clearly decedent and his sister received no more than life estates in the Delaware Trust stock, at the conclusion of which the remaindermen, their children, were entitled to receive it in its entirety.

LTV Aerospace Corp. v. Renegotiation Board

51 T.C. 369 · United States Tax Court · Dec 16, 1968

Clearly, such method is a proper one for accounting for research and development expenditures in the aircraft industry. … Clearly, they were incurred to aid Temco to bid for future defense business within the meaning of section 1459.8(e) (2) (ii).

Larievy v. Comm'r

104 T.C.M. 241 · United States Tax Court · Aug 28, 2012

Clearly, the payments made before the parties filed for divorce, which were included in a written memorialization of their oral understanding, did not meet the statutory requirements and therefore are not deductible. … Reliance on the advice of a tax professional may be sufficient to establish reasonable cause and good faith for the purpose of avoiding the penalty. United States v. Boyle, 469 U.S. 241, 250 (1985).

Swetland v. Commissioner

37 T.C.M. 249 · United States Tax Court · Jan 31, 1978

OPINION The principal issue herein is whether the income interest of each of the four children qualifies for the annual exclusion under section 2503(b) . 4 Respondent contends that petitioner's gifts in trust do not so qualify … Commissioner, 54 T.C. 112 (1970) , we held that income interests qualified for the exclusion despite the existence of similar powers.

Merino v. Comm'r

106 T.C.M. 36 · United States Tax Court · Jul 16, 2013

In the case of a joint return, a spouse must separately satisfy the requirements of section 469(c)(7) to qualify as a real estate professional. Id. … Petitioners also do not qualify for the limited exception under section 469(i).

Exxon Mobil Corp. v. Commissioner

114 T.C. 293 · United States Tax Court · May 3, 2000

Arguably, in light of that case, Exxon’s attempted modification to the accrual of estimated DRR costs from the year DRR work is performed to the year in which wells are drilled would qualify as a mere correction in Exxon’ … Section 446(b) grants respondent broad discretion to determine whether a particular method of accounting clearly reflects income and to impose such method of accounting as in respondent’s opinion does clearly reflect income

Lily Hilda Soltani-Amadi & Bahman Justin Amadi v. Commissioner

2019 T.C. Summary Opinion 19 · United States Tax Court · Aug 8, 2019

Such an evidentiary foundation exists in the present case, as the record clearly demonstrates that Ms. … Thus, the section 401(k) retirement plan established by the State of New York for the benefit of its employees such as Ms.

Estate of Scofield v. Commissioner

25 T.C. 774 · United States Tax Court · Jan 18, 1956

On April 25, 1935, Douglas qualified as the successor testamentary trustee to William. … There is no evidence that the Bank violated any established banking practices.