Case law

Bedrosian v. Comm'r

143 T.C. 83 · United States Tax Court · Aug 13, 2014

The petition also does not clearly indicate that it was an election under section 6223(e)(3). … Both partners of Stone Canyon were passthrough partners; as a result it did not qualify as a small partnership and was subject to the TEFRA procedures.

Casey v. Commissioner

38 T.C. 357 · United States Tax Court · Jun 21, 1962

Inasmuch as this clearly showed that distributions which were charged to the undistributed income account exceeded income by the amounts of the deficits, such deficits were deducted, sufra, in determining basis. … We are satisfied that petitioners’ expert witness was a qualified and credible witness, and that his conclusions were reached after due regard to factors reasonably calculated to produce a valid estimate.

Sears, Roebuck & Co. v. Commissioner

96 T.C. 61 · United States Tax Court · Jan 24, 1991

However, the Internal Revenue Code clearly adopts the basic approach of the Annual Statement method in computing underwriting income and that basic approach, so far as it concerns income from premiums and losses from claims … All of the witnesses were well qualified, articulate, and apparently sincere in stating their positions from the perspective offered.

Lee v. Commissioner

70 T.C.M. 343 · United States Tax Court · Aug 8, 1995

The addition to tax under section 6651(a) will be imposed unless the taxpayer establishes that the failure to file did not result from "willful neglect" and that the failure to file was "due to reasonable cause". … Madkins, whom petitioner assumed was a qualified tax professional, to prepare his 1990 return.

Lon B. Isaacson v. Commissioner

United States Tax Court · Jan 23, 2020

The stipulations and evidence in the record clearly establish the following facts. Petitioner’s clients retained him for legal services. … He did so notwithstanding that the Los Angeles County Superior Court had already held that claim to be “false” and “clearly erroneous”.

Fernando Ponce & Natalie Ponce

United States Tax Court · Jul 18, 2023

Payments that are “undeniable accessions to wealth, clearly realized, and over which the taxpayers have complete dominion” are taxable as income unless an exclusion applies. Commissioner v. … Petitioners have neither alleged that section 7491(a) applies nor established their compliance with its requirements.

Wolf v. Commissioner

61 T.C.M. 2608 · United States Tax Court · May 15, 1991

The documentary evidence establishes that OJN commenced business prior to September 3, 1982. … Petitioner was so clearly unentitled to the deductions claimed, and was so clearly negligent in claiming said deductions, that his argument regarding negligence and intentional disregard for the rules and regulations is totally

Swallows Holding, Ltd. v. Comm'r

126 T.C. 96 · United States Tax Court · Jan 26, 2006

Commissioner, 126 F.2d 384 (4th Cir. 1942), affg. a Memorandum Opinion of the Board of Tax Appeals, clearly clarified and modified Anglo-Am. Direct Tea Trading Co. v. … Commissioner, 40 B.T.A. 696 (1939), and its progeny (under which respondent’s prior notification would have established the deadline).

Portillo v. Commissioner

58 T.C.M. 1386 · United States Tax Court · Feb 13, 1990

The Scar case is clearly inapplicable here. … Since the record clearly establishes that the understatement of tax for 1984 was in excess of $ 5,000, we must sustain respondent's determination that the addition to tax under section 6661 is applicable for the taxable year

Frank Shepard Co. v. Commissioner

9 T.C. 913 · United States Tax Court · Nov 6, 1947

There were 6 such persons, 5 among those who qualified in 1938 and one among the *917 2 who qualified in 1939. Petitioner expended in 1939 $ 15,237.53 in the purchase of such annuities. … We think the instant case is clearly distinguishable from that case on its facts.

Larry E. & Belinda Austin v. Commissioner

141 T.C. No. 18 · United States Tax Court · Dec 16, 2013

Failure or refusal by Employee, after 15 days written notice to Employee, to cure by complying with the reasonable policies, standards and regulations applicable to employees which * * * [UMLIC S-Corp.] may establish … Even more clearly, that is so because a conclusion that section 1.83-3(c)(2) precludes an earnout restriction from creating a “substantial risk of forfeiture” would make that subparagraph of the regulation inconsistent

Dumke v. Commissioner

34 T.C.M. 461 · United States Tax Court · Apr 2, 1975

establish that he provided more for the support of such child during the calendar year than the parent not having custody. … Accordingly, we hold petitioner to have failed to qualify for the dependency deduction under the provisions of section 152(e)(1). Decision will be entered for the respondent. Footnotes 1.

Pacific First Federal Sav. Bank v. Commissioner

94 T.C. 101 · United States Tax Court · Feb 27, 1990

When Congress extended the NOL carryback period from 3 to 10 years in 1969, it was well established *35 that NOL carrybacks had no effect on deductions for additions to bad debt reserve for carryback years. … The majority opinion is based upon a view that Congress intended a result opposite to that promulgated in respondent's regulation, even though the statutory provisions clearly and unambiguously comport with respondent's regulation

Perlmutter v. Commissioner

44 T.C. 382 · United States Tax Court · Jun 18, 1965

Both the factual situation and the basic issue there involved clearly distinguish that case from the instant proceeding. … The burden of establishing that the notices in question were invalid, null, and void is on petitioners. They have failed completely to establish that Y.

Cory H. Smith

United States Tax Court · Aug 25, 2022

Neither qualifies as a misrepresentation of material fact as required by section 7121. 50 At the hearing, Mr. … Smith signed his first closing agreement qualified as duress.

Purnell v. Commissioner

63 T.C.M. 3037 · United States Tax Court · May 18, 1992

The word "church" implies that an otherwise qualified organization bring people together as the principal means of accomplishing its purpose . Chapman v. … The settlement by petitioner with General Motors Acceptance Corporation clearly represented a compensation for a portion of the loss measured by his remaining obligation on the automobile.

Stephens v. Commissioner

60 T.C.M. 197 · United States Tax Court · Jul 23, 1990

To qualify for the All-American an owner had not only to pay all installments of the entry fee but his horse had to also win sufficient qualifying points in preliminary races. … It is well established that in determining whether an activity is engaged in for profit a reasonable expectation of profit is not required, so long as the relevant facts establish that the activity was engaged in with a bona

Citizens & Southern Corp. v. Commissioner

91 T.C. 463 · United States Tax Court · Sep 6, 1988

Petitioner initially contends that deposit base must be depreciated because depreciation clearly reflects income and the clear reflection of income is the governing principle of tax accounting. Sec. 446. … Thus petitioner has established the two elements necessary in order to qualify for a depreciation deduction with respect to deposit base. We must next consider petitioner’s valuation of the acquired deposit base.

Primuth v. Commissioner

54 T.C. 374 · United States Tax Court · Mar 2, 1970

Chusid found him to be a qualified executive and sought other suitable employment for him. … Certainly, in the ordinary affairs of life, common understanding would clearly encompass the fee paid to the employment agency herein as "ordinary and necessary expenses in carrying on any trade or business" ( sec. 162 )

Pagel, Inc. v. Commissioner

91 T.C. 200 · United States Tax Court · Aug 8, 1988

When petitioner received the warrant, there was no active trading of Immuno warrants on any established market. … from the sale or exchange of a capital asset unless— (1) the security was, before the close of the day on which it was acquired (before the close of the following day in the case of an acquisition before January 1, 1982), clearly