Orzechowski v. Commissioner
United States Tax Court
In 1975, P, who was a full-time, salaried employee of O covered by O's qualified pension plan, contributed $ 1,500 to an individual retirement account. Held, such contribution was not deductible under sec. 219, I.R.C. 1954, because P was an active participant in O's qualified pension plan.
Read the full summary
In 1975, P, who was a full-time, salaried employee of O covered by O's qualified pension plan, contributed $ 1,500 to an individual retirement account. Held, such contribution was not deductible under sec. 219, I.R.C. 1954, because P was an active participant in O's qualified pension plan. Held, further, the entire contribution was an excess contribution within the meaning of sec. 4973, I.R.C. 1954, and was subject to the 6-percent excise tax imposed on excess contributions by such section.
1Opinion of the Court
Simpson, Judge:
The Commissioner determined a deficiency of $375 in the petitioners’ Federal income tax for 1975 and imposed an excise tax of $90. The issues for decision are: (1) Whether a $1,500 contribution to an individual retirement account was deductible under section 219 of the Internal Revenue Code of 1954;1 and (2) whether any portion of such contribution constituted an excess contribution subject to the 6-percent excise tax imposed by section 4973.
FINDINGS OF FACT2
Petitioners Richard W. Orzechowski and Janet Orzechowski, husband and wife, lived in the town of Newburgh, N. Y., at the…
2Cited by102 opinions
- Richard W. And Janet Orzechowski v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1979
- Guest v. CommissionerUnited States Tax Court · 1979
- Johnson v. CommissionerUnited States Tax Court · 1980
- Schoof v. CommissionerUnited States Tax Court · 1998
- Spencer v. CommissionerUnited States Tax Court · 1978
97 more not listed; retrieve them via the Exa API.