- 3 - In this notice of deficiency, respondent based the determinations on the plan’s being nonqualified. On August 21, 1996, Mr. Clendenen filed a petition with the Court in which Mr. Clendenen referred to the “erroneous allegation that said trust is not qualified.” On September 29, 1997, the parties in both cases each filed a joint motion for continuance. The parties sought a continuance in order to present the plan qualification issue to the Court in a declaratory judgment action, Howard E. Clendenen, Inc. v. Commissioner, docket No. 18155-96R, because the qualified status of the plan was the significant issue in these cases. On October 2, 1997, the Court granted these motions. On February 13, 1998, the corporation and Mr. Clendenen each filed a Stipulation of Settled Issues. The corporation’s stipulation of settled issues provided in part: 8. For the taxable year ended June 30, 1987, the parties agree that the issue designated “ESOP Contribution to Non-Qualified Plan” in the notice of deficiency is consequential to the issue of plan qualification in related docket 18155-96 “R”. 9. For the taxable year ended June 30, 1988, the parties agree that the issue designated “Deductible Dividends to ESOP” in the notice of deficiency is consequential to the issue of plan qualification in related docket 18155-96 “R”. 10. For the taxable year ended June 30, 1988, the parties agree that the issue designated “Non-Qualified Contribution - Allowed in Yr. included in 1040" in the notice of deficiency is consequential to the issue of plan qualification in related docket 18155-96 “R”.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011