Gregory T. and Kim D. Benz v. Commissioner

132 T.C. No. 15

UNITED STATES TAX COURT GREGORY T. AND KIM D. BENZ, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 15867-07. Filed May 11, 2009. In 2002 P-W elected to receive a series of substantially equal periodic payments from her individual retirement account (IRA) that qualified for a statutory exception to the 10-percent additional tax imposed on early distributions pursuant to sec. 72(t)(2)(A)(iv), I.R.C. Sec. 72(t)(4), I.R.C., provides that an employee who modifies a series of periodic payments within the first 5 years (other than by reason of the employee’s…