Buzzetta Constr. Corp. v. Commissioner
United States Tax Court
The corporate petitioner made profit-sharing plan contributions in excess of the sec. 415(c)(1), I.R.C., as amended, maximum limitations. Held: The excess contributions disqualified the plan and were a material change in the facts on which the plan's favorable ruling was based. Respondent did not abuse his discretion in retroactively revoking the plan's favorable ruling of qualified status.
1Opinion of the Court
COHEN, Judge:
Respondent determined the following deficiencies in petitioners’ Federal income taxes:
Petitioners Taxable year Deficiency
Buzzetta Construction Corp. 3/31/78 $4,178
Docket No. 3738-86 3/31/79 31,591
3/31/81 434
Anthony and Adamina Buzzetta 1979 36,760
Docket No. 3739-86 1980 27,831
1981 9,764
Richard and Marie Mar cant onio 1978 4,378
Docket No. 3740-86 1979 38,050
1980 29,409
1981 4,989
Vicenzo and Maria Buzzetta 1978 3,749
Docket No. 3741-86 1979 38,477
1980 32,346
1981 11,902
After concessions, the issues for decision are whether respondent abused his discretion in disqualifying the…
2Cases cited15 opinions
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- Estate of Gardner v. CommissionerUnited States Tax Court · 1984
- Lansons, Inc., Cross-Appellant v. Commissioner of Internal Revenue, Cross-AppelleeCourt of Appeals for the Fifth Circuit · 1980
- Lansons, Inc. v. CommissionerUnited States Tax Court · 1978
- Oakton Distributors, Inc. v. CommissionerUnited States Tax Court · 1979
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