Justices Told Estate Incorrectly Taxed On Insurance Payout

By Anna Scott Farrell · March 15, 2024, 6:20 PM EDT

The federal government's argument that the $3.5 million in life insurance proceeds a company used to redeem a deceased owner's shares increased both the company's value and its dead owner's estate...

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Case Information

Case Title

Thomas A. Connelly, as Executor of the Estate of Michael P. Connelly, Sr., Petitioner v. United States

Case Number

23-146

Court

Supreme Court

Nature of Suit

2870 Tax Suits

Date Filed

August 16, 2023