NONACQNonacquiescence (IRB)
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References in periodicals archive ?
183, 208 (1999) (Beghe, J., concurring), nonacq., 2000-44 I.R.B.
When the Service loses a case in a district court, and decides not to appeal the decision, it can announce its "acq." (acquiescence) or its "nonacq." (nonacquiescence) in the decision.
Comm., 61 TC 515 (1974), nonacq. 1978-2 CB 4; Bergman v.
(22) See, e.g., Atzingen-Whitehouse Dairy, Inc., 36 TC 173 (1961), nonacq, in part and acq.
1980), rev'g 68 TC 682 (1977), nonacq. 1978-2 CB 3; Est.
1989), nonacq., the courts found a profit motive based on the facts and circumstances.
1976), rev'g 63 TC [paragraph] 36, nonacq. 1978-2 CB 3; Rev.
1993), aff'g 98 TC 227 (1992), nonacq., 1994-2 CB 1; Mellon Bank, N.A., 265 F3d 1275 (Fed.
[sections] 1.861-8(e)(3) held invalid as applied to DISC combined taxable income computations), nonacq. 1995-1 I.R.B.
1993), nonacq., 1994-2 CB 1, rev'g 98 TC 227 (1992), the Sixth Circuit reversed the Tax Court and held that investment counseling fees paid by a trust to aid the trustees in discharging their fiduciary duty to the trust beneficiaries were not subject to the 2% floor.
247 (1940), nonacq., where the Board of Tax Appeals rejected the IRS's argument that the taxpayer, a wheat farmer who bought and sold wheat futures on the Chicago Board of Trade, was speculating in the futures market rather than hedging because he never actually took delivery of, or delivered, wheat under the contracts; the court held that the taxpayer entered the futures market to protect himself against the risk of changes in the price of wheat and therefore was entitled to ordinary loss treatment.