Ohsman v. Comm'r
United States Tax Court
P-H's Roth IRA formed an FSC which entered into a commission agreement with P-H's wholly owned C corporation. For excise tax purposes only, R recharacterized commission payments from the C corporation to the FSC as distributions to P-H followed by P-H's contribution of the proceeds to his Roth IRA.
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P-H's Roth IRA formed an FSC which entered into a commission agreement with P-H's wholly owned C corporation. For excise tax purposes only, R recharacterized commission payments from the C corporation to the FSC as distributions to P-H followed by P-H's contribution of the proceeds to his Roth IRA. R determined that Ps were liable for excise taxes on excess contributions to P-H's Roth IRA under sec. 4973, I.R.C., and additions to tax under sec. 6651(a)(1), I.R.C., for failing to file the appropriate information returns. Held: The transactions must be treated consistently for sec. 4973,…
1Opinion of the Court
MICHAEL S. AND PAMELA S. OHSMAN, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Ohsman v. Comm'r
Docket No. 23756-08.
United States Tax Court
T.C. Memo 2011-98; 2011 Tax Ct. Memo LEXIS 96; 101 T.C.M. (CCH) 1471;
May 3, 2011, Filed
An appropriate order and decision will be entered granting petitioners' motion for summary judgment.
P-H's Roth IRA formed an FSC which entered into a commission agreement with P-H's wholly owned C corporation. For excise tax purposes only, R recharacterized commission payments from the C corporation to the FSC as distributions to P-H followed by P-H's…
2Cases cited7 opinions
- Sundstrand Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1994
- Sundstrand Corp. v. CommissionerUnited States Tax Court · 1992
- Jacklin v. CommissionerUnited States Tax Court · 1982
- Dahlstrom v. CommissionerUnited States Tax Court · 1985
- Speicher v. Peabody Coal CoCourt of Appeals for the Seventh Circuit · 1990
2 more not listed; retrieve them via the Exa API.
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