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this legal issue during the administrative process by
submitting to respondent Commissioner of Internal
Revenue a comment letter discussing the point.
Respondent Commissioner of Internal Revenue considered
petitioner’s assertion; however, respondent
Commissioner of Internal Revenue issued to respondent
Hercules, Inc. a favorable determination letter.
The pleadings place the legal issue as summarized
above squarely in dispute in this action. We do not
see any need to supplement the administrative record.
Consequently, in the absence of extraordinary
circumstances that would otherwise justify discovery or
a trial herein, we shall deny petitioner’s motions.
Discussion
Section 401(a) lists the requirements that must be met by a
trust forming part of a pension or profit-sharing plan in order
for that trust to be eligible for favorable tax treatment under
the various sections of the Internal Revenue Code.
Section 7476(a) confers jurisdiction on this Court to issue
declaratory judgments as to the initial or continuing
qualification of a retirement plan under section 401(a).
Section 7476 “does not provide a broad grant of authority to the
Court to conduct a review of factual matters related to
controversies over retirement plans and to fashion equitable
remedies to resolve these controversies.” Simmons v.
Commissioner, T.C. Memo. 1995-422; see also Stevens v.
Commissioner, T.C. Memo. 1985-192; Wenzel v. Commissioner, T.C.
Memo. 1982-595, affd. 707 F.2d 694 (2d Cir. 1983). Rather, in a
declaratory judgment action under section 7476, we must decide
whether the Commissioner, in making a determination as to the
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