TAX COURT OPINION

Case: Amjad A. Sheikh
Docket Number: 7379-06S
Judge: Foley
Opinion Type: summary
Filed: 04/25/2007
Pages: 4

RCCIE:~~ . D T .C . Summary Opinion 2007-63 UNITED STATES TAX COUR T AMJAD A . SHEIKH, Petitioner v . COMMISSIONER OF INTERNAL REVENUE, Responden t Docket No . 7379-06S . Filed April 25, 2007 . Amjad A . Sheikh, pro se . Julie A . Jebe , for respondent . FOLEY, Judge : This case was heard pursuant to section 7463' of the Internal Revenue Code in effect at the time the petition was filed . Pursuant to section 7463(b), the decision to be entered is not reviewable by any other court, and this opinion should not be treated as precedent for any other case . The issu e 1 Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the year in issue . SERVED "AFM 2 5 2007b - 2 - for decision is whether petitioner is liable for the section 72(t) 10-percent additional tax relating to an early distribution from a qualified retirement plan . Background In 2003, petitioner, who was less than 59-1/2 years of age, received a $9,776 distribution from a qualified retirement plan . Petitioner reported the distribution on his 2003 Federal income tax return . On January 23, 2006, respondent sent petitioner a notice of deficiency relating to 2003 . In the notice, respondent determined that petitioner was liable for the section 72(t) 10- percent additional tax because petitioner received an early distribution from a qualified retirement plan . On April 18, 2006, petitioner, while residing in Joliet, Illinois, filed his petition with the Court and contested the 10-percent additional tax . Discussion Section 72(t)(1) imposes a 10-percent additional tax on a n early distribution from a qualified retirement plan . Petitioner contends that he is not liable for the additional tax because of financial hardship . Section 72(t)(2) lists several exceptions to the additional tax, but there is no exception relating t o financial hardship . Arnold v . Commissioner , 111 T .C . 250, 255 (1998) . Accordingly, respondent's determination is sustained . Contentions we have not addressed are irrelevant, moot, or - 3 - meritless . To reflect the foregoing, Decision will be entere d for respondent .