Decided Cases

  •  AmBase Corporation v. United States., _F.3d_ (2d Cir. 2013), 2013 WL 4779643 (Thrift entitled to additional bad debt reserve deduction to the extent of other adjustments to taxable income.)
  • Liberty Mutual Ins Co v. United States, 532 F. Supp.2d 248 (D. Mass. 2008) (Held that insurer is entitled to gross up closing 1990 loss reserves for salvage and subrogation netted in annual statement reserves, and to fresh start exclusion for all prior year estimated salvage and subrogation under the transition rule of sec. 11305 of the Revenue Reconciliation Act of 1990);
  • Capital Blue Cross v. Commissioner, 431 F.3d 117 (3d Cir. 2005) (Held that Blue Cross organization is entitled to loss deductions for terminations of subscriber contracts held as of January 1, 1987, when it became taxable);
  • Travelers Ins Co v. United States, 46 Fed. Cl. 458 (2000) (Five memoranda prepared by the company’s tax department ruled admissible under the business records exception to the hearsay rule);
  • Amicus Curiae Brief of Alliance of American Insurers in Support of Appellant’s Brief Seeking Reversal of the Decision of the United States Tax Court;
  • United Parcel Service of America, Inc. v. Commissioner, 254 F.3d 1014 (11th Cir. 2001), rev’g T.C Memo 1999-268 (Reversed Tax Court’s holding that the establishment of an off-shore reinsurance company was without economic substance and a sham);
  • Amicus Curiae Brief of AmBase Corp in Support of Petitioner, Atlantic Mutual Ins Co v. Commissioner, 523 U.S. 382 (1998) (No. 97-147), aff’g 111 F.3d 1056 (3d Cir. 1997) (Held that “reserve strengthening” included any net additions to property and casualty insurer’s loss reserves, not just increases from changes in methods or assumptions used to compute them);
  • Lone Star Life v. Commissioner, T.C. Memo 1997-465 (Notice of deficiency held timely issued to insurance company because it was bound by Form 872s, Consent to Extend the Time to Assess Tax, that were executed by its parent);
  • Trans City Life Ins Co v. Commissioner, 106 T.C. 274 (1996), representing American Council of Life Insurers in filing amicus brief concerning scope and application of I.R.C. § 845 to reinsurance (Held that the IRS abused its discretion in applying I.R.C. § 845 to disallow small life insurance company deduction);
  • Travelers Ins Co v. United States, 303 F.3d 1373 (Fed. Cir. 2002), rev’g 35 Fed. Cl. 138 (1996), reh’g granted-in-part and denied-in-part, 319 F.3d 1380 (Fed. Cir. 2003), cert. denied 540 U.S. 819 (2003) (Reversed holding that the IRS abused its discretion in changing accounting method for foreign currency);
  • Western National Mutual Ins Co v. Commissioner, 65 F.3d 90 (8th Cir. 1995), aff’g 102 T.C. 338 (1994) (Treasury regulation on reserve strengthening held invalid);
  • Jefferson-Pilot Corp v. Commissioner, 995 F.2d 530 (4th Cir. 1993), aff’g 98 T.C. 435 (1992) (Held that FCC broadcast licenses qualified as franchises);
  • Travelers Ins Co v. United States, 303 F.3d 1373 (Fed. Cir. 2002), rev’g 28 Fed. Cl. 602 (1993), reh’g granted-in-part and denied-in-part, 319 F.3d 1380 (2003), cert. denied, 540 U.S. 819 (2003) (Reversed holding that Taxpayer’s computation of foreign tax credit was proper);
  • Travelers Ins Co v. United States, 25 Cl. Ct. 141 (1992) (Held that prepayment penalties received on mortgages were excludable from gross investment income and retirement of notes held to be sale or exchange of capital asset so amounts qualified as long term capital gain under I.R.C. § 1232);
  • Credit Life Ins Co v. United States (Cl. Ct. Dkt. No. 586-84 T), rev’d, 948 F.2d 723 (Fed. Cir. 1991) (Held that Taxpayer was not entitled to bad debt deduction for uncollectible reinsurance recoverables);
  • Security Benefit Life Ins Co v. United States, 726 F.2d 1491 (10th Cir. 1984), aff’g 517 F. Supp. 740 (D. Kan. 1981) (Held invalid Treasury regulations on taxation of assumption reinsurance transactions);
  • Provident Life and Accident Ins Co v. United States, 334 F. Supp. 2d 1029 (E.D. Tenn. 2004) (Held that IRS could not apply equitable recoupment to treatment of experience rating credits as policyholder dividends in closed years)
  • Luba Mutual Holding Company v. Commissioner, No. 024675-12 (Tax Court) (When may taxpayers claim a policyholder dividend deduction.)
  • AXA Financial Inc. v. United States, No. 12-cv-00626 (Fed. Cl.) (What is the appropriate period for calculating overpayment interest.)