Ross v. Odom: Income Tax Treatment of Proceeds From Employer Funded and Administered Survivors’ Benefit Programs
Even though an independent insurance company was not utilized, the Court of Appeals for the Fifth Circuit recently held in Ross v. Odom that the proceeds from a state established and administered survivors' benefit program were tax exempt as proceeds of a life insurance contract under section 101(a)(1) of the Internal Revenue Code. This note analyzes and inquires into the ramifications of the court's rationale, which was based on a functional approach to the concept of insurance and an interpretation of the legislative history. Of particular interest is the extension of the Odom precedent to privately funded, self-administered insurance plans in private business.
Ross v. Odom: Income Tax Treatment of Proceeds From Employer Funded and Administered Survivors’ Benefit Programs,
1969 Duke Law Journal
Available at: https://scholarship.law.duke.edu/dlj/vol18/iss2/7