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other court, and this opinion shall not be treated as precedent
for any other case.
For 2003, respondent determined a deficiency in petitioner’s
Federal income tax of $9,083 and an accuracy-related penalty
under section 6662(a) of $1,817. After concessions by the
parties,2 the sole issue for decision is whether petitioner is
liable for the 10-percent additional tax under section 72(t) on
an early distribution from a qualified retirement plan. We hold
that he is.
Background
Some of the facts have been stipulated, and they are so
found. We incorporate by reference the parties’ stipulation of
facts and accompanying exhibits.
At the time that the petition was filed, Jeffrey Lee Golian
(petitioner) resided in the State of Colorado.
For a period of time prior to the year in issue, petitioner
was employed by the Kansas City Southern Railroad (the railroad)
and lived in the Kansas City area in a single-family residence,
which he owned.
While he was employed by the railroad, petitioner maintained
a section 401(k) account. Petitioner contributed 3 percent of
2 Petitioner concedes that he received taxable nonemployee
compensation of $1,106 from Translink, Inc., that was not
reported on his 2003 return. Respondent concedes that petitioner
is not liable for the accuracy-related penalty under sec.
6662(a).
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