26 U.S.C. § 843
Annual accounting period
For purposes of this subtitle, the annual accounting period for each insurance company subject to a tax imposed by this subchapter shall be the calendar year. Under regulations prescribed by the Secretary, an insurance company which joins in the filing of a consolidated return (or is required to so file) may adopt the taxable year of the common parent corporation even though such year is not a calendar year.
Notes of Decisions
Cited in 2
cases, 1995–2014 · leading case: DiCioccio v. Duquesne Light Co., 911 F. Supp. 880 (W.D. Pa. 1995).
DiCioccio v. Duquesne Light Co., 911 F. Supp. 880 (W.D. Pa. 1995). “Excluded from the definition was imputed income within the meaning of 26 U.S.C. § 843 , unearned income and unanticipated income from the receipt of expense reimbursement.”
United States Liab. Ins. Co. v. The Dep't of Ins., 2014 IL App (4th) 121125 (Ill. App. Ct. 2014). “" 26 U.S.C. § 843 (2006). Thus, defendants are correct that an insurance company could have a different fiscal year than the calendar year and thus would be required to keep a second set of tax records.”
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