Description: Dialogue between Peter Winslow, a tax attorney, and Edward Robbins and Christian DesRochers, tax actuaries, on selected tax issues related to proposals to change statutory reserving from a formula-based methodology to a principles-based approach.

Description: Federal Tax Issues Under the 2001 CSO Mortality Tables

Description: This article discusses tax and accounting issues that arise under a recently-issued Chief Counsel Advice in which the IRS applied a life insurance company tax rule to a nonlife company that issues life insurance products

Description: Author discusses the treatment of current life insurance reserves under the tax code in determining a life insurer's taxable income, and what challenges are ahead in the era of principles-based reserves.

Description: Discusses how companies must ensure that significant and necessary product development, and administrative and compliance system changes, have been completed and tested in time to accommodate new requirements.

Description: An interview with Sheryl Flum, chief, Branch 4, IRS Office of Associate Chief Counsel (Financial Institutions and Products) at the Internal Revenue Service, regarding her role at the IRS and current tax issues facing the life insurance industry.

Description: The paper sets forth a procedure, based on actual experience, for determining extra life insurance reserves for term insurance conversion rights for annual statement purposes. Followed by several submitted discussion papers.

Description: Draft Pre-Need Model proposed by National Association of Insurance Commissioners, NAIC, is analyzed from tax standpoint of both insurers, through sec. 807, and policyholders, through secs. 7702 and 7702A.

Description: Discusses the CCA 201939003 and the conclusions that were made and the impacts it has on a taxpayer's ability to make an election for determining the interest rate used to compute tax-deductible life insurance reserves.

Description: Panelists discuss: [1] the tax implication of NAIC changes to reserving requirements, [2] the new NAIC Valuation of Life Insurance Policies Model Regulation [Reg. XXX], [3] Actuarial Guideline 33 [AG 33], [4] AG 34, and [5] highlights of an actual IRS audit involving these NAIC actuarial guidelines and regulations. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.