United States Second Circuit

Dismissal of plaintiff's complaint alleging that the Revenue Service wrongfully denied it certain federal income tax deductions taken pursuant to Code Section 808, which permits a deduction for policyholder dividends "paid or accrued during the taxable year" is affirmed, where: 1) the "all-events" test governs and that plaintiff may claim the deductions in a particular tax year only if "all the events have occurred that establish the fact of the liability" in that tax year; and 2) plaintiff's complaint fails to state a plausible claim that the all-events test was satisfied as to the two types of dividend-related deductions at issue here.

Appellate Information

• Decided 08/01/2013
• Published 08/01/2013

Judges

• CARNEY

Court

• United States Second Circuit

Counsel