Ann Jackson Family Found. v. Commissioner
United States Tax Court
P, a private nonoperating foundation, received distributions totaling $ 350,000 per year from a split-interest trust as defined by sec. 4947(a)(2), I.R.C.Held, the distributions from the split-interest trust are not included in distributable amount as defined in sec. 4942(d), I.R.C.; sec. 53.4942(a)-2(b)(2), Foundation Excise Tax Regs., invalidated. Held, further, P is not liable for additions to tax pursuant to sec. 6651(a)(1), I.R.C.
1Opinion of the Court
OPINION
TANNENWALD, Judge:
Respondent determined deficiencies in and additions to petitioner’s Federal excise tax as follows:
Year ending 5/31/84 5/31/85 5/31/86 5/31/87 5/31/88 5/31/89 9/25/89
First tier tax sec. 4942(a) 1 $36,627 77,976 122,262 122,262 122,262 122,262
Second tier tax sec. 4942(b)
Additions to tax sec. 6651(a)(1) $9,157 19,494 30,565 30,565 30,565 30,565
$815,079
After concessions by respondent the issues remaining for decision are: (1) Whether petitioner is liable for excise taxes under section 4942(a) for failure to distribute income for taxable years ending May 31, 1984, through…
2Cases cited18 opinions
- Grosso v. United StatesSupreme Court of the United States · 1968
- National Muffler Dealers Assn., Inc. v. United StatesSupreme Court of the United States · 1979
- United States v. Vogel Fertilizer Co.Supreme Court of the United States · 1982
- Hanover Bank v. CommissionerSupreme Court of the United States · 1962
- Koshland v. HelveringSupreme Court of the United States · 1936
13 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- The Ann Jackson Family Foundation v. Commissioner Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1994
- Greenberg Bros. P'ship 4 v. CommissionerUnited States Tax Court · 1998
- Unionbancal Corp. v. CommissionerUnited States Tax Court · 1999
- Pepcol Mfg. Co. v. CommissionerUnited States Tax Court · 1992
- Perkin-Elmer Corp. v. CommissionerUnited States Tax Court · 1994
18 more not listed; retrieve them via the Exa API.