Credit: Maks_Lab/Adobe Stock Former Physician Can Proceed With Contract Claim Against New England Life Insurance Over Inaccurate 1099-R
A retired physician's breach-of-contract claim may proceed against New England Life Insurance Co. for allegedly issuing an incorrect 1099-R report in relation to the plaintiff's surrender of his life insurance policy in an underlying matter, a district court judge held Tuesday.
August 26, 2022 at 01:38 PM
5 minute read
A retired physician's breach-of-contract claim may proceed against New England Life Insurance Co. for allegedly issuing an incorrect 1099-R report in relation to the plaintiff's surrender of his life insurance policy in an underlying matter, a U.S. District Court judge held Tuesday.
Dr. Charles D. Gianetti filed a five-count complaint against NELICO seeking damages for costs that he incurred while appealing a tax assessment. Gianetti alleges that the Internal Revenue Service assessed a tax deficiency against him because NELICO included incorrect information about a capital gain on a 1099-R after the physician surrendered a life insurance product as part of a previous settlement agreement between the parties, according to the judge's opinion filed in U.S. District Court for the District of Connecticut.
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