• 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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This flawless, 101.7-carat, pear-shaped diamond—one of the world’s largest —will go up for auction at Christie’s “Magnificent Jewels” sale in Geneva on May 15, 2013. How much will it sell for? Choose the correct answer and registered site users will be eligible to win a one-year subscription to Christie's Geneva Jewelry sales catalogue, courtesy of Christie's. 
