IRS to Cancel Offer to Disallow 80% of Deductions on Broad-Based COLI; Will Go to Court for 100% (PDF)

Subscribe (Free) to
Daily or Weekly Newsletters

Post a Job

Featured Jobs

Education Consultant

Pentegra
(Remote / Putnam Valley NY)

Plan Compliance Analyst (Administrator)

RPA
(Remote)

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

<< Previous news item | Next news item >>

IRS to Cancel Offer to Disallow 80% of Deductions on Broad-Based COLI; Will Go to Court for 100% (PDF)
Internal Revenue Service [IRS]

[Official Guidance]
Oct. 11, 2002

Excerpt: To date, the Service has successfully litigated three cases involving broad-based COLI transactions.... In all three cases, the courts denied the claimed interest deductions on the ground that the COLI plans lacked economic substance.

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).

An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).