January 24, 2024
The Eighth Circuit wrongly allowed the IRS to tax a life insurance payout meant to maintain a family's control of its St. Louis building materials company, the estate of the company's deceased co-owner told the U.S. Supreme Court in an opening brief Wednesday.
October 31, 2023
The estate of a man whose $3.5 million life insurance policy directed his brother to purchase his shares in their closely held company was correctly required to pay federal estate tax on the payout, the federal government told the U.S. Supreme Court.
June 02, 2023
A man's estate is not entitled to a tax refund after the Eighth Circuit ruled Friday that the Internal Revenue Service was correct to impose a $1 million levy on $3 million in insurance proceeds used to purchase shares in a family business.
December 14, 2022
The U.S. government defended a $1 million tax bill assessed against a man's estate, arguing Wednesday in the Eighth Circuit that $3 million in insurance proceeds used to purchase shares in a family business should be included in the company's value.
April 26, 2022
A Missouri federal court correctly decided that a man's estate owes an additional $1 million in taxes associated with life insurance proceeds used to purchase his shares in a family business, the U.S. government told the Eighth Circuit.