In Ozimkoski v. Commissioner, Docket No. 3622-11, filed December 19, 2016, the Tax Court addressed the following issues:
- whether petitioner’s individual retirement account (IRA) distributions totaling $174,597.17 were taxable income to her;
- whether petitioner’s IRA distributions were subject to the section 72(t) 10% additional tax;
- whether the petitioner was liable for the section 6651(a)(1) addition to tax; and
- whether the petitioner is liable for the section 6662(a) accuracy-related penalty.
See the full opinion at Ozimkoski v. Commissioner.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.