Case law

Peoples Bancorporation v. Commissioner

63 T.C.M. 3028 · United States Tax Court · May 18, 1992

Doerfler, a well qualified statistical expert, stated in his report: "In conclusion, it is my opinion that the analytical methods described here support the contention that these deposit bases have a well-defined life, and … deposits would not have included the "full" tax benefit of the amortization because there was no case law allowing amortization of core deposits at the time of the acquisition of the NCNB branches and the Treasury position was clearly

Drilling v. Comm'r

111 T.C.M. 1445 · United States Tax Court · May 25, 2016

Drilling has one and only one asset of any size which is a qualified retirement plan. … The Memphis Settlement Officer clearly documented that the taxpayer did not raise any liability issues for 2004 or 2005.

Alumax Inc. and Consolidated Subsidiaries v. Commissioner

109 T.C. No. 8 · United States Tax Court · Sep 30, 1997

In the notice, respondent determined, inter alia: you are not qualified for inclusion in Amax, Inc.' … Balotti's opinions to be qualified in material respects. To illustrate, Mr.

Estate of Holland v. Commissioner

73 T.C.M. 3236 · United States Tax Court · Jun 30, 1997

To the contrary, the facts show clearly that decedent intended the checks to be gifts. The intent to make a gift is not an intent to create a bona fide debt. Estate of Labombarde v. … Furthermore, the disclosure had to be full and substantive and be clearly identified as being made to avoid imposition of the accuracy-related penalty. Id.

Transport Labor Contract/Leasing, Inc. & Subsidiaries v. Commissioner

123 T.C. No. 9 · United States Tax Court · Aug 9, 2004

*DRIVER: The use of the word Driver refers to any company employees who have been qualified to drive for any of TLC, Inc.’s lessees. … Moreover, the record does not always clearly distinguish the roles of Beech Trucking and ATS with respect to the drivers’ activities. * * *  - 50 - record in this case, TLC was

Hess v. Comm'r

86 T.C.M. 303 · United States Tax Court · Aug 20, 2003

HII’s philosophy in establishing projections is to provide goals that will take a lot of effort to achieve. … However, the redemption was clearly of a minority interest in HII stock, regardless of whether Mr. Hess and Mr. Kucklick treated each other as equals.

Swerdloff v. Commissioner

55 T.C.M. 307 · United States Tax Court · Mar 3, 1988

Whether an expenditure qualifies as an ordinary and necessary expense incurred in a trade or business is an issue of fact. Commissioner v. Heininger, 320 U.S. 467 , 475 (1943) . a. … The mere failure to report income is not sufficient to establish fraud, Merritt v.

ESTATE OF H.A. TRUE v. COMMISSIONER

82 T.C.M. 27 · United States Tax Court · Jul 6, 2001

We later clarified the reach of the Golsen rule by emphasizing that it should be construed narrowly and applied only if “a reversal would appear inevitable, due to the clearly established position of the Court of Appeals … Therefore, under the Golsen rule, we are bound to follow the clearly established positions of that Court.

Guyer v. Commissioner

49 T.C.M. 1376 · United States Tax Court · May 1, 1985

Moreover, the mere use of the assets in the parent's business does not establish the existence of a rental arrangement. … No other objective manifestations of contemporaneous intent to repay have been established.

Venture Funding, Ltd. v. Commissioner

110 T.C. No. 19 · United States Tax Court · Mar 26, 1998

petitioner received on Apr. 4, 1988 (at the stipulated value of $.78125 per share). 4 The plan of bankruptcy reorganization to which petitioner and Endotronics were parties in the transactional sense did not immunize … There is no question in this case that the transfer of property qualifies for deduction under section 162. Deductions under section 162 are not conditioned on withholding.

Tennessee Secur., Inc. v. Commissioner

37 T.C.M. 1803 · United States Tax Court · Oct 31, 1978

Prior to September 9, 1971, all TSI documents--its financial statements, its reports to the SEC and its minutes--clearly reflected that the guarantee was the obligation of petitioners alone. … ; and (ii) By other corroborative evidence sufficient to establish such element.

Henry v. Commissioner

73 T.C.M. 1769 · United States Tax Court · Jan 16, 1997

- 5 - The stock of IMED was neither publicly traded on an established stock market exchange nor registered with the Securities and Exchange Commission from 1978 through 1981. … In the present cases, petitioners' 1982 return identified the property in question and clearly distinguished between stocks and options.5 Furthermore, the return disclosed the dates the shares and options were acquired

Dudley Joseph Callahan and Myrna Dupuy Callahan v. Commissioner

130 T.C. No. 3 · United States Tax Court · Feb 5, 2008

In addition, section 6330(c)(2)(B) establishes the circumstances under which a person may challenge the existence or amount of the underlying tax liability. … The Form 843 clearly does not contain information on which the substantial correctness of petitioners’ refund claim may be judged.

Chicago Baseball Holdings, LLC, Northside Entertainment Holdings, LLC, F.K.A. Ricketts Acquisition, LLC, Tax Matters Partner

United States Tax Court · Oct 26, 2021

The memorandum mentions that the sub debt notes are illiquid and without an established market. … The portion of the special distribution funded by the sub debt thus does not qualify under the debt-financed distribution exception of the disguised sale rules.

Howard v. Commissioner

56 T.C.M. 669 · United States Tax Court · Nov 15, 1988

The option also reserved a 50 percent royalty for the Uranium for *571 Tax Dollars investor if he should approve a sale of the claim area to a qualified developer. … We believe that the entire record clearly establishes negligence on the part of the petitioners here involved so as to warrant the additions to tax under sections 6653(a)(1) and 6653(a)(2) 6 as applicable.

Bowman v. Comm'r

93 T.C.M. 1204 · United States Tax Court · May 3, 2007

- 2 - Background The record establishes and/or the parties do not dispute the following. … It also advised you clearly that the issues you ap- peared to present in your hearing request were consid- ered frivolous.

Estate of Melcher v. Commissioner

29 T.C.M. 1010 · United States Tax Court · Aug 24, 1970

In and of itself, the "note" did not create and establish a debtor-creditor relationship. … An "option" cannot be implied or found in the transaction which would make the net expense a qualified expense for the purpose of section 1234. No bonds were in fact purchased, and no loan was in fact made.

Charlotte's Office Boutique, Inc. v. Commissioner

121 T.C. No. 6 · United States Tax Court · Aug 4, 2003

All three requirements must be met in order for petitioner to qualify for relief under section 530 of the Revenue Act of 1978. … Although not expressed by petitioner clearly, we understand it to argue in its opening brief that Howard E. Clendenen, Inc. v. Commissioner, 207 F.3d 1071 (8th Cir. 2000), affg. T.C. Memo. 1998-318, Springfield v.

Tribune Media Company F.K.A. Tribune Company & Affiliates

United States Tax Court · Oct 26, 2021

The memorandum mentions that the sub debt notes are illiquid and without an established market. … The portion of the special distribution funded by the sub debt thus does not qualify under the debt-financed distribution exception of the disguised sale rules.

Burditt v. Commissioner

77 T.C.M. 1767 · United States Tax Court · Apr 6, 1999

A taxpayer may demonstrate reasonable cause if he can show that he relied in good faith on a qualified adviser after full disclosure of all necessary and relevant information. See Jackson v. … Robinson clearly resolves the issue raised by the allocation provisions in this case, but it had not been decided when petitioners took  - 34 - their return position.