- 11 -
regulation that suggests that an individual must be retired in
order to receive a "retirement distribution". In other words,
there is nothing in the regulation to suggest that "all" means
"some".
D. Case Law
We also take note of the fact that petitioner's argument is
contrary to several decisions of this Court. Thus, in Rodoni v.
Commissioner, 105 T.C. 29, 40 (1995), the Court had little
difficulty in holding that the taxpayer was liable for the excise
tax under section 4980A, even though the taxpayer received a
lump-sum distribution from his corporation's profit sharing plan
in 1988 but continued to be employed by his corporation "until
the present". Rodoni v. Commissioner, supra at 30.
In Montgomery v. Commissioner, T.C. Memo. 1996-263, the
Court also held that the taxpayer was liable for the excise tax
under section 4980A. There the taxpayer, a teacher employed by
the Hagerstown, Maryland Community College, received a
distribution (in the form of a transfer refund from the Maryland
State Teachers' Retirement System) in 1990. However, the
taxpayer remained so employed at least through the time that the
(...continued)
2085, 2481-2483. It was subsequently renumbered by sec.
1011A(g)(1)(A) of the Technical and Miscellaneous Revenue Act of
1988, Pub. L. 100-647, 102 Stat. 3342, 3479. Because the
applicable regulation does not reflect the statutory renumbering,
the regulation appears as sec. 54.4981A-1T, Temporary Qualified
Pension Plan Excise Tax Regs., 52 Fed. Reg. 46750 (Dec 10, 1987).
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