Case law

Maring v. Commissioner

56 T.C.M. 343 · United States Tax Court · Sep 27, 1988

Senft, who was serving his prison sentence at the time of the trial of the instant case, testified pursuant to a grant of immunity. … Senft who established and controlled various entities to effectuate his scheme. Senft & Co., the first entity used by Mr.

Christie Coal & Coke Co. v. Commissioner

28 T.C.M. 498 · United States Tax Court · May 12, 1969

Clearly they were not in the trade or business of 520 financing corporations (see Whipple v. … Clearly, Christie did not comply with this regulation.

Estate of Chamberlain v. Commissioner

77 T.C.M. 2080 · United States Tax Court · Jun 1, 1999

Meyer and Kadish, the attorneys who handled the estates of the Chamberlains (collectively, "witnesses"), to establish that decedent substantially complied with section 2518. … All 3 exhibits clearly contemplate a disclaimer of joint tenancy property to the extent necessary to use the full amount of the unified credit, after taking into account the probate assets. In Exhibit 4-D, Mr.

Reineck v. Commissioner

2 T.C.M. 108 · United States Tax Court · May 19, 1943

Reineck Trust, and duly qualified and acted as such trustee throughout. Petitioners Frederick M. Lee and Winfield S. Hevenor are individuals. Lee became associated with the business of E. F. … Reineck clearly did not intend that Lee and Hevenor should have the stock as a gift. The stock in the form of proceeds from its sale was given to his wife, petitioner Irene M. Reineck.

National Starch & Chemical Corp. v. Commissioner

52 T.C.M. 804 · United States Tax Court · Oct 20, 1986

More specifically, Unilever was to establish a first-tier subsidiary, initially referred to as Newco. … Clearly, reorganization expenditures of the acquiring corporation in an *110 acquisitive reorganization are nondeductible. United States v. Hilton Hotels Corp., supra.

Williams v. Comm'r

110 T.C.M. 356 · United States Tax Court · Oct 7, 2015

(The record does not clearly establish who pre- pared the 1996-1999 returns but the Court infers that someone in Mr. Bagdis’ law office prepared them.) For 2000-2003 petitioner and Mrs. … The evidence established that Mrs. Williams did not sign up 4 See, e.g., Torrisi v. Commissioner, T.C. Memo. 2011-235, 102 T.C.M.

IDI Management, Inc. v. Commissioner

36 T.C.M. 1482 · United States Tax Court · Oct 25, 1977

If partial worthlessness is factually established as happening prior to a sale or exchange, two identifiable tax events have occurred. Cf. Levine v. Commissioner, 31 T.C. 1121 (1959) . … Clearly, an obligation of the corporation issuing stock in satisfaction of its indebtedness can qualify as property under section 351. Duncan v. Commissioner, 9 T.C. 468 (1947) .

Nalle v. Commissioner

19 T.C.M. 212 · United States Tax Court · Mar 18, 1960

Ethel Sturm Gluff qualified as executrix of his estate on July 1, 1952. The estate was appraised at $27,775.72 which consisted of checking and savings accounts and uncashed checks. … It has long been established that income tax due to the United States constitutes debts. See Price v. United States, 269 U.S. 492 (1926) .

R. P. Farnsworth & Co. v. Commissioner

6 T.C.M. 244 · United States Tax Court · Mar 5, 1947

He also qualified petitioner to do business in other states. He was a brother-in-law of the Farnsworths. Louis K. Good had graduated from the School of Engineering at Tulane and was a licensed engineer. … We think the record clearly establishes that the seven executives here involved were men of great ability and energy. Petitioner's success depended almost solely on the reputation, skill *301 and industry of these men.

Simpson v. Commissioner

35 T.C.M. 710 · United States Tax Court · May 24, 1976

Commissioner, 336 U.S. 422 (1949) . *257 We believe Stewart Forshay, 20 B.T.A. 537 (1930) , cited by petitioner, is clearly distinguishable from the instant case since in that case, sale proceeds and rental income from certain … will not be readily tradable in an established securities market), or (B) in any other form designed to render such bond or other evidence of indebtedness readily tradable in an established securities market, shall not be

Norwest Corp. v. Comm'r

111 T.C. 105 · United States Tax Court · Aug 10, 1998

Commissioner, 31 T.C. 238 (1958) , and subsequent cases, is applicable, but the Atrium does not qualify under that test. … Clearly, the issue was not tried with petitioner's consent in light of the stipulation and the lack of any notice by respondent that he intended to raise the issue.

Michael T. Sestak

United States Tax Court · Apr 25, 2022

That concept is not determinative in our analysis of this case because we are dealing with a forfeiture that (as discussed above) does not qualify as an ordinary and necessary business expense under section 162. 5 Furthermore … Petitioner’s activities with regard to the receipt of bribery proceeds and his attempts to hide the activities associated therewith are “badges of fraud” that clearly and convincingly indicate the civil fraud penalty under

DeMoss v. Commissioner

66 T.C.M. 1834 · United States Tax Court · Dec 29, 1993

This activity is clearly within the type contemplated under section 212. … Petitioner has failed to establish that his contributions went to a qualified plan.

SUNDBY v. COMMISSIONER

2004 T.C. Summary Opinion 104 · United States Tax Court · Jul 28, 2004

qualifies as an allowable deduction under the provisions of the Internal Revenue Code. … However, the expenses that were billed to Navis clearly were incurred by Navis rather than petitioners.

Green v. Comm'r

90 T.C.M. 436 · United States Tax Court · Oct 31, 2005

Petitioner has failed to establish the second prong of Schleier because he is unable to establish that any part of the first annuity was allocable to personal injury or sickness, and the record lacks any evidentiary basis … A sporadic activity, a hobby, or an amusement diversion does not qualify. See Commissioner v. Groetzinger, 480 U.S. 23, 35 (1987).

Eifert v. Commissioner

73 T.C.M. 2736 · United States Tax Court · May 7, 1997

- 4 - At some point in time not clearly disclosed by the record, but before February 1994, Moncor Bank was taken over by the Federal Deposit Insurance Corp. … Prevailing Party In order to qualify as the "prevailing party", a taxpayer must establish: (1) The position of the United States in the proceeding was not substantially justified; (2) the taxpayer has substantially

Briggs v. Commissioner

15 T.C.M. 440 · United States Tax Court · Apr 16, 1956

The books and records of petitioners as kept clearly reflected their income. Issue 3. … It had sent representatives to Europe to investigate the feasibility of establishing the business in several European countries.

BURTON v. COMMISSIONER

2001 T.C. Summary Opinion 155 · United States Tax Court · Sep 26, 2001

Moreover, taxpayers must keep sufficient records to establish the amounts of the deductions. Meneguzzo v. … Factors that would tend to establish that a timber farm is entered into for profit are clearly shown in Kurzet v. Commissioner, T.C. Memo. 1997-54, affd. in part and revd. in part 222 F.3d 830 (10th Cir. 2000).

Webber v. Commissioner

47 T.C.M. 32 · United States Tax Court · Oct 12, 1983

that the beaver purchase transaction qualifies for investment tax credit under sections 38 and 48, and that the purchase transaction had no economic substance. … This hardly qualifies as an arm's-length transaction which provides any reliable indication of the beavers' value.Other transactions referred to in Mr.

Lamb v. Commissioner

56 T.C.M. 511 · United States Tax Court · Oct 18, 1988

Respondent explained his determination on the basis that the loss deductions claimed from the computer sale/leaseback transaction in 1979 and 1980 were disallowed because it had not been established that the losses were incurred … Therefore, clearly petitioner was at risk to the extent of $ 32,500 with respect to his computer purchase/leaseback transaction. The issue concerns the long-term installment note. In Porreca v.