Payments to settlement fund held deductible outside sec. 468B

The recent appellate court decision in Maxus Energy Corp. (1994) indicates that payments to a settlement fund may be deductible outside of Sec. 468B despite the fact that the liability remains contested.

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Bibliographic Details
Published in:The Tax Adviser 1995-01, Vol.26 (1), p.26
Main Authors: Powell, Rhonda S, Vance, Scott W
Format: Magazinearticle
Language:English
Subjects:
Damages
Federal court decisions
Internal Revenue Code
Liability
Section 461(h)
Section 468B
Settlements & damages
State court decisions
Structured settlements
Tax deductions
Taxation
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Description
Summary:The recent appellate court decision in Maxus Energy Corp. (1994) indicates that payments to a settlement fund may be deductible outside of Sec. 468B despite the fact that the liability remains contested.
ISSN:0039-9957