Case law

Foster v. Comm'r

24 T.C.M. 1268 · United States Tax Court · Sep 14, 1965

The record clearly establishes that Foster became a resident of Venezuela in 1939, and, after a brief period of military service during World War II in the United States, resumed his Venezuelan residence in late 1945 or early … The stipulation does not clearly disclose the purpose for which the two $350 payments were made in 1954.

Estate of Trompeter v. Commissioner

75 T.C.M. 1653 · United States Tax Court · Jan 27, 1998

When stock is listed on an established securities market, the stock's value usually equals its listed market price. … Case law establishes a two-part test for determining whether a transfer of money qualifies as debt. First, repayment of the purported debt cannot be contingent upon a future event.

Stanton v. Comm'r

26 T.C.M. 191 · United States Tax Court · Feb 28, 1967

Roosevelt Hospital and Delbarton School were organizations to which qualifying charitable contributions could have been made in 1960 within the meaning of section 170(c) of the 1954 Code. … The expenditures within the option would quite clearly be capital expenditures in other industries.

Alvi v. Comm'r

2010 T.C. Summary Opinion 79 · United States Tax Court · Jun 21, 2010

Commissioner, supra at 687-688. 6 Respondent considered the possibility that petitioner’s software development activities may qualify for sec. 174 treatment. … If a taxpayer establishes that an expense is deductible but is unable to substantiate the precise amount, we may estimate the amount, bearing heavily against the taxpayer whose inexactitude is of his own making.

Thomas S. Lee Enterprises, Inc., Transferee v. Commissioner

12 T.C.M. 730 · United States Tax Court · Jun 29, 1953

Dwight Merrill, and Beatrice Norton were appointed and qualified as executors of his estate. The administration of the estate required approximately fourteen years and was not *198 closed until October 1948. … It is clearly proved that the earnings and profits which the petitioner accumulated were not beyond the reasonable needs of its business. The respondent's determination is reversed.

Rutt-Hahn v. Commissioner

72 T.C.M. 1443 · United States Tax Court · Dec 5, 1996

"  - 11 - Monetary remedies under the ADEA are limited to back wages, which are clearly of an "economic character," and liquidated damages, which we have already noted serve … The law is well established that section 72 governs the taxation of distributions received pursuant to the CSRS. Malbon v. United States, 43 F.3d 466 (9th Cir. 1994).

Hunt v. Commissioner

60 T.C.M. 31 · United States Tax Court · Jul 3, 1990

Petitioner, a resident of New Jersey earning income in that State, was a "person" required to file Federal income tax returns for the years in issue and is clearly subject to Federal income tax laws. … We find nothing in the record which raises a doubt that petitioner might qualify for one of the statutory exceptions.

Ross v. Commissioner

33 T.C.M. 982 · United States Tax Court · Aug 27, 1974

. *111 A taxpayer need not be domiciled in a foreign country to qualify as a resident. Commissioner v. Swent, 155 F.2d 513 , 515 (C.A. 4, 1946); Herman Frederick Baehre, 15 T.C. 236 , 241 (1950) . … While the regulations under section 871 may not necessarily deny residency status to a taxpayer who has the intent to remain in a foreign country for a lengthy but definite period of time, they clearly contemplate that an

Medtronic, Inc. v. Comm'r

111 T.C.M. 1515 · United States Tax Court · Jun 9, 2016

Applicable Statute and Regulations Section 482 was enacted to prevent tax evasion and to ensure that taxpayers clearly reflect income relating to transactions between controlled entities. … He also concluded that the CPM establishes the return to Medtronic US for its contributions to the U.S.

United Cancer Council, Inc. v. Commissioner

109 T.C. No. 17 · United States Tax Court · Dec 2, 1997

The compensation of the Escrowee shall be established by the Agency, the Client, and Escrowee. … We cannot clearly identify which 23 of the 42 other prospect mailings are among the 71 stipulated sweeps prospect mailings.

Griffith v. Commissioner

49 T.C.M. 1399 · United States Tax Court · May 6, 1985

Respondent has conceded that Effie qualifies as an innocent spouse under section 6013(e) and is not responsible for the additions to tax under section 6653(b). … The taxpayer's entire course of conduct may be used to establish the requisite intent. Spies v. United States, 317 U.S. 492 (1943) ; Gajewski v. Commissioner, supra at 200 ; Stone v. Commissioner, supra at 223-224 .

Gaestel Motor Co. v. Commissioner

6 T.C.M. 63 · United States Tax Court · Jan 28, 1947

Each received 700 shares of stock in their own names, except for qualifying shares. Petitioner's capital stock increased until in 1940 there were outstanding 3,400 shares of capital stock. … These amounts are less than the fixed salaries established in the resolution of the Board of Directors. ↩

LeFleur v. Commissioner

74 T.C.M. 37 · United States Tax Court · Jul 7, 1997

On the other hand, respondent contends that no part of the settlement proceeds qualifies for exclusion as "damages received * * * on account of personal injuries" under section 104(a)(2). … Commissioner, supra (express language in settlement agreement was respected where evidence in the record established that the inclusion of the language in the settlement agreements was the result of bona fide arm's-length

Commercial Finance Co. v. Commissioner

27 T.C.M. 1114 · United States Tax Court · Oct 3, 1968

In 1958, upon Gertrude's death, petitioner Neil, named by her will, qualified as the executor of her estate. … Our Findings of Fact clearly reflect why we must reject these arguments.

Hunter v. Commissioner

43 T.C.M. 764 · United States Tax Court · Mar 16, 1982

It required showing the cow as well as several of its offspring to establish that not only did the cow have superior qualities but that it was able to pass those qualities on to its progeny. … Therefore, at least $ 6,200 of this amount was clearly with respect to the transaction here in issue.

Saba P'ship v. Commissioner

78 T.C.M. 684 · United States Tax Court · Oct 27, 1999

The Chase PPNs were not readily tradeable on an established market. … The IBJ CDs were not readily tradeable on an established market.

Smith v. Commissioner

33 T.C.M. 842 · United States Tax Court · Jul 29, 1974

Because OIC never established an electro-mechanical program, OIC never received any funding credit for the inventory. … Clearly the chattel mortgage gave petitioner only a security interest in the mortgaged property. Sterman v. Ziem, 17 Cal. App. 2d 414 , 62 P.2d 160 (1936) .

Texas Mobile Home Asso. v. Commissioner

21 T.C.M. 510 · United States Tax Court · Apr 25, 1962

MEMBERS-AT-LARGE shall be those whose business location is not within the area of an established Chapter. … The facts here show clearly that a primary purpose of the mobile home show was to raise the funds necessary to have a paid executive director for petitioner.

Illinois Tool Works Inc. & Subsidiaries v. Commissioner

2018 T.C. Memo. 121 · United States Tax Court · Aug 6, 2018

CSE clearly had the financial capacity to repay the loan at the original maturity date in December 2011. … CSE would likely have qualified for a S&P credit rating of at least BBB, which was investment grade. Mr.

Marine v. Commissioner

92 T.C. 958 · United States Tax Court · May 11, 1989

Our decision in this case is unaffected by the burden of going forward or the burden of proof because the stipulated facts establish the nature of the transactions in issue. … At the time of trial of this case, petitioners were named plaintiffs in one lawsuit and qualified as class members in at least two class action suits against Schulman and other defendants.