Taxation of corporate-owned life insurance policy proceeds payable to shareholders.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on August 1, 1992. The length of the article is 1390 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Corporate life insurance policies that list the insured's family or estate as beneficiaries may not qualify for exclusion from gross income as pertaining to estate tax. The IRS challenges such arrangements on grounds that dividends were distributed from the estate and therefore taxable. Companies often have key man policies wherein the death of an officer will provide a payoff to the corporation itself that satisfy tax exclusion rules, but non-shareholding beneficiaries may be subject to taxation if the proceeds are declared distributions.

Citation Details
Title: Taxation of corporate-owned life insurance policy proceeds payable to shareholders.
Author: Richard A. Headley
Publication:The Tax Adviser (Magazine/Journal)
Date: August 1, 1992
Publisher: American Institute of CPA's
Volume: 23 Issue: n8 Page: 520(3)

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