• Termination of split-dollar agreements causes recognition of income—In Neff v. Commissioner, T.C. Memo. 2012-244 (Aug. 27, 2012), the Tax Court held that the taxpayers had terminated a split-dollar agreement with their employer, causing them to recognize income in an amount equal to the net premiums formerly paid by their employer on the life insurance policies. The taxpayers argued that they had simply sold the rights to future payments under the split-dollar ...

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