Modern Home Life Ins. Co. v. Commissioner
United States Tax Court
Held, an insurance company, which undertakes to pay the monthly sum due on the insured's mortgage while the insured is absent from work on account of illness or other disability, may treat as "unpaid losses" within the meaning of sec. 832(b)(5), the estimated liability in a subsequent year on account of a disabling illness or accidental injury in the taxable year (sec. 832(b)(5); Regs. sec. 1.832-1).
1Opinion of the Court
Modern Home Life Insurance Company, Petitioner 1 v. Commissioner of Internal Revenue, Respondent
Modern Home Life Ins. Co. v. Commissioner
Docket No. 1380-68
United States Tax Court
54 T.C. 935; 1970 U.S. Tax Ct. LEXIS 146;
May 7, 1970, Filed
Decision will be entered under Rule 50.
Held, an insurance company, which undertakes to pay the monthly sum due on the insured's mortgage while the insured is absent from work on account of illness or other disability, may treat as "unpaid losses" within the meaning of sec. 832(b)(5), the estimated liability in a subsequent year on account of a disabling…
2Cases cited7 opinions
- Brown v. HelveringSupreme Court of the United States · 1934
- Peoples Bank & Trust Co. v. CommissionerUnited States Tax Court · 1968
- Peoples Bank and Trust Company v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1969
- Pacific Employers Ins. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1937
- Pacific Employers Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1935
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