D.J. Lee, M.D., Inc. v. Commissioner
United States Tax Court
Petitioner maintained a defined benefit pension plan and a money purchase pension plan. Prior to the statutory deadline for making its annual employer contributions to those pension plans, petitioner segregated a sum sufficient to fund the contributions in a checking account established in petitioner's name. After the deadline, petitioner made the contributions by transferring funds from the checking account into separate bank accounts maintained in the name of the plans.
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Petitioner maintained a defined benefit pension plan and a money purchase pension plan. Prior to the statutory deadline for making its annual employer contributions to those pension plans, petitioner segregated a sum sufficient to fund the contributions in a checking account established in petitioner's name. After the deadline, petitioner made the contributions by transferring funds from the checking account into separate bank accounts maintained in the name of the plans. Held, petitioner failed to make timely employer contributions to its pension plans for purposes of sec. 412(b)(3)(A),…
1Opinion of the Court
Whalen, Judge:
Respondent determined that two pension plans sponsored by petitioner failed to satisfy the minimum funding standards prescribed by section 4121 for their respective plan years ending September 30, 1982. Accordingly, he determined deficiencies in petitioner’s Federal excise tax under section 4971(a) for petitioner’s fiscal year ending on that date. In the case of petitioner’s defined benefit pension plan (docket No. 140-87), the deficiency was $3,470, based upon an accumulated funding deficiency in the amount of $69,393. In the case of petitioner’s money purchase pension plan…
2Cases cited7 opinions
- Don E. Williams Co. v. CommissionerSupreme Court of the United States · 1977
- Surface Combustion Corp. v. CommissionerUnited States Tax Court · 1947
- Commissioner of Internal Revenue v. Surface Combustion CorporationCourt of Appeals for the Sixth Circuit · 1950
- Gillis v. CommissionerUnited States Tax Court · 1974
- Wilcox Inv. Co. v. CommissionerUnited States Tax Court · 1944
2 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Wood v. CommissionerUnited States Tax Court · 1990
- D.J. Lee, M.D., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1991
- Lee Eng'g Supply Co. v. CommissionerUnited States Tax Court · 1993
- D.J. Lee, M.D., Inc. v. CommissionerUnited States Tax Court · 1989
- Estate of Eleanor R. Gerson, Allan D. Kleinman v. CommissionerUnited States Tax Court · 2006
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