Overseas Partners facing victory against the IRS

By David Marchant

26 years ago

Topics

Bermuda Insurance USA

Keywords

Overseas Partners Ltd. United Parcel Service

Overseas Partners Ltd. appears to have won its battle with the US Internal Revenue Service over tax assessments and penalties totalling $539 million that were levied against the firm for the period 1984-90. On January 21, 1999, a US Tax Court ruled that OPL had no deficiency in income tax, and no additional tax was due from the company, for 1984, the only year that has so far gone to trial.

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