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OPINION OF THE SPECIAL TRIAL JUDGE
ARMEN, Special Trial Judge: Respondent determined a
deficiency in petitioners' Federal excise tax under section 4980A
for the taxable year 1990 in the amount of $7,569.2 In the
petition, petitioners claimed an overpayment of income tax in the
amount of $30,139 with respect to the additional tax imposed
under section 72(t).
After a concession by respondent,3 the issues for decision
are: (1) Whether petitioner Richard J. Montgomery is liable for
the 15-percent excise tax under section 4980A for taxable year
1990; and (2) whether petitioners are liable for the 10-percent
additional tax imposed under section 72(t) on early distributions
from qualified retirement plans for the taxable year 1990. The
resolution of these issues turns on whether a Transfer Refund
distribution was paid from a qualified plan pursuant to sections
4980A(e)(2), 72(t), and 4974(c).
FINDINGS OF FACT
Some of the facts have been stipulated, and they are so
found. Petitioners resided in Hagerstown, Maryland, at the time
that their petition was filed with the Court.
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).
3 Respondent concedes that petitioner Adele S. Montgomery is
not liable for the deficiency in issue herein.
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