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Deductions Insureds

McDermott Will & Emery

Second Circuit Disagrees with Claims Court and Denies Deduction for Contingent Dividend Liability

McDermott Will & Emery on

On August 1, 2013, the U.S. Court of Appeals for the Second Circuit held in New York Life Ins. Co. v. U.S., that the taxpayer’s liability for policyholder dividends was contingent, and therefore, was not deductible until the...more

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