United States Federal Circuit

Because life insurance reserve releases are not "fundamentally inconsistent" events, the tax benefit rule is unavailable where the taxpayer receives even a partial tax benefit.

Appellate Information

• Decided 10/03/2001
• Published 10/03/2001

Judges

• Before BRYSON, GAJARSA and LINN, Circuit Judges.

Court

• United States Federal Circuit

Counsel

• For Appellant:
  
• Norman Sinrich,Kostelanetz & Fink, LLP, of New York, NY, argued for plaintiff-appellant.   With him on the brief was Nancy W. Pierce.   Of counsel was Judy Kramer.


• For Appellees:
  
• David I. Pincus, Attorney, Tax Division, Department of Justice, of Washington, DC, argued for defendant-appellee.   With him on the brief were Paula M. Junghans, Acting Assistant Attorney General;  and Edward T. Perelmuter, Attorney.