Tobacco Settlement

News & Analysis as of

Tax Court Rules that Payments by Tobacco Distributor to Tobacco Master Settlement Agreement Qualified Settlement Fund Not...

In Suriel v. Comm’r, 141 T.C. No. 16 (Dec. 4, 2013), the Tax Court ruled that, under the specific facts in this case, the economic performance rules under IRC Section 461(h), permitting a tax deduction for certain liabilities...more

Smoking Still Kills and Tobacco Companies Still Fight the Truth

Although it has many supporters (also known as nicotine addicts), the tobacco industry has few friends. That’s not only because it markets a lethal product, but because of its inability to cop to its health-corroding...more

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