- 2 - Respondent determined a deficiency in petitioner’s Federal income tax of $6,025.70 for 2003. The issue for decision is whether a qualified retirement plan distribution was attributable to petitioner’s being “disabled” within the meaning of section 72(m)(7), thereby excepting him from liability for the section 72(t) 10-percent additional tax. Background The stipulated facts and the exhibits received into evidence are incorporated herein by reference. At the time the petition in this case was filed, petitioner resided in Anaheim, California. Petitioner was employed by Southern California Edison Co. (Southern Cal) as a boiler mechanic for 20 years. He worked for Southern Cal until his retirement in March of 2003. As a boiler mechanic, petitioner’s job was to maintain power generating stations, which required him to engage in “heavy work”. When working on a boiler, petitioner was required to lift large pieces of metal with his coworkers that weighed between 250-300 pounds. Petitioner’s responsibilities included, among other things, replacing valves, doing boiler overhauls, welding on a steel platform on his knees, and constructing parts for maintenance of the power plant.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011