Reports of the United States Tax Court, Volume 67United States Tax Court, 1977 - Government publications |
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Common terms and phrases
5th Cir affd agreement allocated amended amount applied assets basis Camous cash claimed COMMISSIONER OF INTERNAL computed contract decedent decedent's December December 16 December 31 decision deduction depreciation disallowed distribution dividend earnings and profits employees entitled estate tax facts Federal income tax filed Frick Building funds gift tax gross income Harder Tree held hereinafter included Income Tax Regs income tax returns interest Internal Revenue Code Internal Revenue Service issue Las Vegas lease liability Nevada test site notice of deficiency October 31 opinion option paid parties partnership payments percent period petition petitioner petitioner's prior purchase purposes pursuant received redemption REECO reserve ratio resided respect Respondent determined RESPONDENT Docket respondent's Rule shareholders shares spouse statute statutory stipulated subsidiary supra Tax Court taxable income taxable year ended taxable years 1970 taxpayer tion transaction transfer trust United Webb WHTCs
Popular passages
Page 664 - I give, devise and bequeath all the rest, residue and remainder of my estate, both real and personal, to my beloved wife, Susie E. Smith, to have and to hold to her, my said wife, and to her heirs and assigns forever.
Page 141 - In any calendar year, or (B) such employees as qualify under a classification set up by the employer and found by the Secretary...
Page 191 - Except as provided in section 276 — (a) GENERAL RULE. — The amount of income taxes imposed by this title shall be assessed within three years after the return was filed, and no proceeding in court without assessment for the collection of such taxes shall be begun after the expiration of such period.
Page 221 - A court of the United States shall have power to punish by fine or imprisonment, at its discretion, such contempt of its authority, and none other, as — "(1) Misbehavior of any person in its presence or so near thereto as to obstruct the administration of justice; "(2) Misbehavior of any of its officers in their official transactions; "(3) Disobedience or resistance to its lawful writ, process, order, rule, decree, or command.
Page 172 - A trust created or organized in the United States and forming part of a stock bonus, pension, or profit-sharing plan of an employer for the exclusive benefit of his employees or their beneficiaries...
Page 388 - Deductions otherwise allowed by law not attributable to the operation of a trade or business regularly carried on by the taxpayer...
Page 916 - ... if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses.
Page 827 - ... (a) In general. There shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year in carryIng on any trade or business, including — (1) a reasonable allowance for salaries or other compensation for personal services actually rendered; (2) traveling expenses (including amounts expended for meals and lodging other than amounts which arc lavish or extravagant under the circumstances...
Page 887 - ... separation from the service, the amount of such distribution, to the extent exceeding the amounts contributed by the employee...
Page 136 - ... (4) if the contributions or benefits provided under the plan do not discriminate in favor of employees who are officers, shareholders, persons whose principal duties consist in supervising the work of other employees, or highly compensated employees.