A Small Victory for Taxpayers
A recent Tax Court decision regarding demutualized insurance companies has wide-ranging implications for holders of stock in the demutualized companies. While the IRS had held that stockholders had no basis in the stock they received when the insurer demutualized, the Tax Court disagreed. For details on the court’s decision, visit http://www.demutualization.biz. This resource was set up by Minnesota CPA Charles D. Ulrich, who has long argued the IRS was wrong.
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