Peek v. Comr., 140 T.C. No. 12 (2013)

(petitioner acquired C corporation through an IRA followed by loan guarantees to the corporation; court held that such loan violated I.R.C. Sec. 4975(c)(1)(B) which prohibits loan guaranties by petitioner either directly to the IRA or indirectly to the IRA through of an entity owned by the IRA; prohibited transaction rule violated and IRA terminated; accuracy-related penalty upheld).