A corporation is the owner and beneficiary of the key person life policy. If the corporation collects the policy benefit, then 1. The benefit is subject to the exclusionary rule. 2. IRS has no jurisdiction. 3. The benefit is received as taxable income. 4. The benefit is received tax free.
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The post A corporation is the owner and beneficiary of the key person life policy. If the corporation collects the policy benefit, then 1. The benefit is subject to the exclusionary rule. 2. IRS has no jurisdiction. 3. The benefit is received as taxable income. 4. The benefit is received tax free. appeared first on Superb Professors.
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