Peoples Security Life Insurance Company, Successor to Peoples Life Insurance Company, Washington, D.C. v. The United States

The final decision of the United States Claims Court, upholding taxpayer Peoples Security Life Insurance Company’s assessed taxes for 1973 and 1974, is affirmed.

OPINION

Taxpayer brought a suit in the United States Claims Court to recover federal income taxes and assessed interest paid for tax years 1973 and 1974. Before the trial court’s decision in the present case, the Claims Court decided, and the Federal Circuit affirmed, Ohio National Life Insurance Co. v. United States, 11 Cl.Ct. 477, aff'd on op. below, 807 F.2d 1577 (1987), which squarely dealt with the issues in question in taxpayer’s…