Elaine S. Bennett - Page 2

                                        - 2 -                                         

          Rules 180, 181, and 183.1  The Court agrees with and adopts the             
          Opinion of the Special Trial Judge, which is set forth below.               
                         OPINION OF THE SPECIAL TRIAL JUDGE                           
               ARMEN, Special Trial Judge:  Respondent determined a                   
          deficiency in petitioner's Federal excise tax under section 4980A           
          for the taxable year 1991 in the amount of $26,672.2                        
               The issue for decision is whether the Transfer Refund                  
          distribution received by petitioner in 1991 from the Maryland               
          State Employees' Retirement System is subject to the 15-percent             
          excise tax under section 4980A as an excess distribution from a             
          qualified plan.                                                             
               This case was submitted fully stipulated under Rule 122, and           
          the facts stipulated are so found.  Petitioner resided in                   
          Cambridge, Maryland, at the time that her petition was filed with           
          the Court.                                                                  
          I.  Background                                                              
               At all times relevant to this case, petitioner was employed            
          as an employment specialist by the Maryland State Department of             


          1         Unless otherwise indicated, all section references are            
          to the Internal Revenue Code in effect for the taxable year in              
          issue, and all Rule references are to the Tax Court Rules of                
          Practice and Procedure.                                                     
          2         Sec. 4980A imposes a 15-percent excise tax on excess              
          distributions from qualified retirement plans.  This tax is                 
          included within ch. 43 of the I.R.C. and is subject to the                  
          deficiency procedures set forth in subch. B of ch. 63 of the                
          I.R.C.  See sec. 6211(a).                                                   




Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  Next

Last modified: May 25, 2011