Case law

Turem v. Commissioner

54 T.C. 1494 · United States Tax Court · Jul 16, 1970

Administration as county function; establishment of county department. … The payments were therefore clearly in the nature of compensation, the “quo” in the “quid- pro quo” exchange to which regulations section 1.117-4(c) is addressed. See Bingler v. Johnson, 394 U.S. 741, 757 .

Intermet Corp. & Subsidiaries v. Commissioner

111 T.C. 294 · United States Tax Court · Dec 8, 1998

Congress delegated broad authority to the Commissioner to establish regulations for filing consolidated returns. Sec. 1502. … United Dominion is clearly distinguishable from the instant case because sec. 172(j), I.R.C. 1954, predecessor to sec. 172(f)(1)(A), did not contain the language in sec. 172(f)(1) which limits SLL’s to those that are taken

Law Office of John H. Eggertsen P.C. v. Commissioner

142 T.C. 110 · United States Tax Court · Feb 12, 2014

Thus, not only the taxing provision of §4979A(a) but also §4979A(c)(2)—which defines the person liable for the tax imposed by §4979A(a)—clearly … Section 2032A(f)(1) involved in Stovall provides in pertinent part that if qualified real property ceases to be used for a qualified use, ‘‘[t]he statutory

BHA Enterprises, Inc. v. Commissioner

74 T.C. 593 · United States Tax Court · Jun 24, 1980

Clearly, had the FCC prevailed in its action against petitioner, the effect would have been to prohibit the operation of petitioner’s business, namely, the operation of stations KAVR and KAVR-FM, and clearly the action which … officers, shareholders, or directors, something of value under false pretenses or by fraudulent means through the use of false stock certificates; and, in light of the foregoing allegations, if found to be true, was not qualified

Industrial Aid for the Blind v. Commissioner

73 T.C. 96 · United States Tax Court · Oct 15, 1979

NIB was established in 1939 as an outgrowth of congressional enactment of the Wagner-O’Day Act in 1938. … Clearly, petitioner has the same purpose as WWB and.NIB, and both of these organizations are within the purview of section 501(c)(3).

American New Covenant Church v. Commissioner

74 T.C. 293 · United States Tax Court · May 19, 1980

of the Church ordained and established by this Charter to the following terms and conditions; TO-WIT: * * * * * * * 2. … Proc. 72-4, 1972- 1 C.B. 706 , provides, in part, that an exempt status will be recognized if proposed operations can be described in sufficient details to permit a conclusion that an organization will clearly meet the particular

Estate of Levitt v. Commissioner

95 T.C. 289 · United States Tax Court · Sep 13, 1990

In Estate of Blair, the will contained a formula providing that the trust established for the benefit of the surviving spouse: shall also include the portion of separate property * * * qualifying for the marital deduction … Because decedent * * * expressly bequeathed an amount to achieve a minimum payment of federal estate taxes, we conclude that decedent’s intent was clearly expressed and the [trust] does not contain a maximum marital deduction

Seminole Rock & Sand Co. v. Commissioner

19 T.C. 259 · United States Tax Court · Nov 18, 1952

The partnership employed an Imposing staff of qualified engineers and geologists. Diehard T. Lassiter, a graduate of Massachusetts Institute of Technology in civil engineering, and a cousin of D. G. … We think there is sufficient evidence to establish abandonment of the plant and we hold that taxpayer is entitled to deduct the difference between the adjusted basis of the asphalt plant and its salvage value.

William O. McMahon, Inc. v. Commissioner

45 T.C. 221 · United States Tax Court · Dec 1, 1965

Eespondent relies on section 446 (b) which permits him to compute taxable income under a method which clearly reflects income if the taxpayer’s method does not clearly do so. … The repeal of section 452, and the subsequent A.A.A. and Schlmde cases, clearly establish the general rule that prepaid income may not be deferred. Congress has permitted only two exceptions to this general rule.

Warren M. Goodspeed Scholarship Fund, Baybank Merchants, N.A. v. Commissioner

70 T.C. 515 · United States Tax Court · Jun 15, 1978

It was established pursuant to the Will of Joan R. Goodspeed, who died on April 22, 1964, leaving a will dated October 28,1955. … A simple reading of the will reveals quite clearly, we think, the purpose for which petitioner was established.

Porter v. Comm'r

130 T.C. 115 · United States Tax Court · May 15, 2008

The parties stipulated that petitioner does not qualify for relief from joint and several liability on the 10-percent additional tax under section 6015(b) or (c). … A trial de novo would be necessary and is clearly authorized in this situation; there may be only a skeletal administrative record.

PSB Holdings, Inc. v. Comm'r

129 T.C. 131 · United States Tax Court · Nov 1, 2007

Under section 265(b)(3)(A), a “qualified tax-exempt obligation” acquired after August 7, 1986, is treated for purposes of sections 265(b)(2) and 291(e)(1)(B) as if it were acquired on August 7, 1986; thus, qualified tax-exempt … The parties agree that the tax-exempt obligations owned by Investments are “qualified tax-exempt obligations”.

Flahertys Arden Bowl, Inc. v. Commissioner

115 T.C. 269 · United States Tax Court · Sep 25, 2000

Flaherty’s employer, Moss & Barnett, P.A., maintained a qualified profit sharing plan. Moss & Barnett, P.A., also maintained a qualified pension plan. … Braun is a lawyer and has provided services for qualified retirement plans since 1971. Mr.

Nicholls, North, Buse Co. v. Commissioner

56 T.C. 1225 · United States Tax Court · Aug 31, 1971

establishes to' the contrary. … Since we hold that the yacht fails to qualify either in whole or in part as a depreciable asset, we must also hold that the yacht does not meet the section 48 definition of property qualified for investment credit.

Lamphere v. Commissioner

70 T.C. 391 · United States Tax Court · May 31, 1978

Being convinced that petitioners did make qualifying charitable contributions during 1970, we are required to make an approximation of the amount thereof in accordance with our best judgment. Cohan v. … Physical damage to property caused by a flood is clearly a casualty within the purview of section 165(c)(3), and respondent apparently concedes that petitioners suffered some such damage.

Dall v. Commissioner

23 T.C. 580 · United States Tax Court · Dec 31, 1954

The essential fact which the petitioner has not established is that stock having a fair market value of $15,235.42, received by him in 1946, was compensation for personal services. … Clearly the payment was, in fact, a reimbursement for past expenses and an advance against future expenses. It, therefore, does not qualify under the specific requirements of section 107 (a).

Kluss v. Commissioner

46 T.C. 572 · United States Tax Court · Aug 9, 1966

All of the organizations to whom the 200 subscriptions of “/«form” were mailed were charitable organizations qualifying under section 170(c), I.R.C. 1954. … While such characterization on her return, standing alone, does not conclusively establish her purpose, petitioner testified on cross-examination that she was “in sympathy with the purposes of the Foundation” and that it

Seltzer v. Commissioner

10 T.C. 810 · United States Tax Court · May 12, 1948

In the last quoted clause, the ■words “as grantor” are clearly implied, viz., “I [as grantor] reserve the right to add other properties to the trust estate.” … It is refuted by the use of the qualifying phrase “who are twenty-one (21) years or more of age.” Presumably grantor’s wife and her two sisters were 21 years or more of age.

Figueiredo v. Commissioner

54 T.C. 1508 · United States Tax Court · Jul 16, 1970

The trial was handled pro se and petitioners’ position has not been clearly articulated. … (a) In general. ⅜ * ⅜ any person required to file a return of information with respect to income, shall keep such permanent books of account or records, including inventories, as are sufficient to establish the amount of

Ortmayer v. Commissioner

28 T.C. 64 · United States Tax Court · Apr 17, 1957

Our findings of fact demonstrate, to the contrary, that a binding debtor-creditor relationship was intended and established when the funds were loaned and the notes executed and delivered. … That the excess so canceled (which cancellation was clearly not intended as a gift, cf. Commissioner v. Jacobson, 336 U.