ORDER
STRAND, District Judge.
I. INTRODUCTION
This is an action by taxpayer Oxford Life Insurance Company seeking refunds of federal income taxes from the IRS for the years 1975 and 1976. Whether Oxford Life is entitled to these refunds turns on a determination of the income tax treatment of an indemnity reinsurance agreement between Oxford Life and Anchor National Life Insurance Co. ("Anchor").
II. FACTUAL BACKGROUND
On December...
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