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provide otherwise, which is not the case here. See Estate of
Jalkut v. Commissioner, 96 T.C. 675, 684 (1991). Nevertheless,
since the TAM appears to be the wellspring of petitioner's
enhanced deduction claim, we deem it necessary to discuss it.
The TAM purports to apply Rev. Rul. 76-28 as it relates to
section 404(a)(6) grace period contributions in defined
contributions plan cases. As previously noted, Rev. Rul. 76-28
contains several tests (including one insignificant alternative)
for determining whether grace period contributions may be deemed
to have been made on the last day of the preceding taxable year.
One of the tests, easily met, is that the employer must claim the
contribution as a deduction on its tax return for the preceding
taxable year.
The second test is that the plan must treat the
contributions in the same manner as payments actually received on
the last day of the preceding taxable year. The TAM nullifies
this, the only really significant requirement of Rev. Rul. 76-28,
by holding that since there is no specific linkage between
contributions and benefits in a defined benefit plan, the
requirement that the plan treat the contributions in the same
manner as it would a contribution actually received on the last
day of the preceding taxable year, is "meaningless".
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