May 12, 2016
In September 2015, the Tax Court issued its opinion blessing residual value insurance contracts as “insurance” for federal income tax purposes. Authors Jean Baxley and Sheryl Flum provide a brief backdrop to the “what is insurance” issue, summarize the Tax Court’s opinion in RVI, and offer observations regarding some of the potential implications of the decision. From the March 2016 Taxing Times. Read by Dan Theodore.