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taken into account in applying the tax. All other
amounts not specifically exempted are taken into
account. [H. Conf. Rept. 99-841, 1986-3 C.B. (Vol. 4)
477; emphasis added.]
See also Staff of Joint Comm. on Taxation, General Explanation of
the Tax Reform Act of 1986, 754-760 (J. Comm. Print 1987).
The above quoted passages from the congressional reports
regarding section 4980A demonstrate that Congress intended to
include, within the statutory definition of "retirement
distributions", all distributions from qualified plans, except
those specifically excluded by the statute. Because the taxable
portion of petitioner's Transfer Refund is not a type of
distribution that is specifically excluded by the statute, it
therefore follows that the taxable portion of such Refund was
intended by Congress to come within the definition of a
"retirement distribution" for purposes of section 4980A.
F. Section 4980A(f)
To the extent that petitioner may rely on section 4980A(f),
it is clear that such section does not serve to relieve
petitioner from liability for the excise tax under section
4980A(a). Here we observe that section 4980A(f) is a
"grandfather" provision that authorizes an exemption of accrued
benefits in excess of $562,500 on August 1, 1986. Subsection (f)
of such section requires that an election be made with respect to
an eligible individual in order to have the subsection apply.
See sec. 4980A(f)(1), (5). However, petitioner has not made the
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