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Minnesota CPA fights IRS over life insurance demutualization
Charles Ulrich, a Baxter CPA with 45 years in the field, leads a clash with the IRS over tax on stock and cash received after mutual life insurers reorganized into public companies. He seeks class-action status to force IRS review, arguing policyholders paid premiums that gave ownership and that receipts from demutualization are a return of those premiums, not capital gains.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
Charles Ulrich
Baxter
CPA
Ulrich
Minnesota
City Hall
IRS