TITLE

Holding Pattern

AUTHOR(S)
Forray, Susan J.; Riley Jr., Richard F.
PUB. DATE
September 2011
SOURCE
Best's Review;Sep2011, Vol. 112 Issue 5, p94
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the aggressiveness of the U.S. Internal Revenue Service (IRS) to challenge the deductions for loss reserves of casualty and property insurers. According to IRS, some insurers are consistently and intentionally overstate their loss reserves to inflate tax deductions. It mentions that IRS considers explicit and implicit margins as the reasons for inflating the loss reserve deductions of a company beyond reasonable and fair level.
ACCESSION #
66857737

 

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