Law Office of John H. Eggertsen P.C. v. Commissioner

142 T.C. No. 4

UNITED STATES TAX COURT LAW OFFICE OF JOHN H. EGGERTSEN P.C., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 15479-11. Filed February 12, 2014. During its taxable year 2005, P, an S corporation, maintained an employee stock ownership plan. R determined that 2005 was a “nonallocation year” within the meaning of I.R.C. sec. 409(p)(3)(A) with respect to that plan and that I.R.C. sec. 4979A imposes a Federal excise tax on P for that taxable year. Held: I.R.C. sec. 4979A(a) imposes a Federal excise tax on P for its taxable year 2005. Held, further, the period…