Tax Tips - Life Insurance Ruling
Monday, April 13, 2009
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If you received shares of life insurance companies when they demutualized, then there's a court case you should be following. NBR's tax guru, Kevin McCormally of Kiplinger's Personal Finance, offers an update on this case in his latest Tax Tip.
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External Links/Articles*
- Kiplinger.com
This links to a November 2008 article Kevin McCormally authored for Kiplinger.com. The article is titled, "A Tax Break for Insurance Stock." It discusses the ruling in the complex court case challenging how the IRS taxes stock from demutualized life insurance companies. - University of Massachusetts Boston
This links to a November 2006 working paper authored by professors at the University of Massachusetts Boston and Northeastern University. The paper is titled, "Demutualization in the Life Insruance Industry: A Study of Effectiveness." It offers background about the demutalization process that led to the tax issues currently being debated in U.S. federal court. - U.S. Court of Federal Claims (PDF Document)
This links to the complete text of the ruling in the case of Eugene A. Fisher, et al. v. The United States. This is the case Kevin McCormally cites in his Tax Tip.
*Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.
