Description: A discussion of the bill that will require tax reporting of sales of interests in life insurance policies. This bill will require the buyer of an interest in a life insurance policy to report the sale to the Internal Revenue Service and notify the life insurer that issued the policy.

Description: Discussions on CIGNA, SEPP failure, investor control, tacking rule, and split-dollar life insurance arrangement are featured.

Description: Highlights of recent American Council of Life Insurers (ACLI) activities

Description: Presented at May 1985 Spring Meeting. This session discussed: Tax change, Product line allocation, Stock and mutual company considerations, Generally accepted accounting principles deferred taxes, Accounting for life/life and life/nonlife tax consolidations, Tax sharing agreements among affiliated companies, Reinsurance agreement impact, Conflicts between tax planning and solvency considerations.

Description: A continuation of the conversation about principle-based reserves (PBR). Actuaries and an attorney discuss revisit federal-income tax-related issues as they relate to PBR.

Description: This article describes how there are many kinds of plans and arrangements under which qualified annuities are issued, and the rules governing them differ considerably.

Description: This paper was written to demonstrate that universal life and indeterminate premium products are similar to participating plans. Followed by several discussion papers submitted.

Description: Federal Tax Issues Under the 2001 CSO Mortality Tables

Description: This article explores the complexities and potential problems with respect to tax reserves that could result from a retroactive application of a principle-based reserves PBR approach for life insurance reserves.

Description: This article discusses the June 23, 1977 Supreme Court ruling that a life insurance company must include the net valuation portion but not the associated loading of deferred and uncollected premiums in its assets and gross premium income as well as in its reserves in computing its tax liability. Some companies have been using this procedure or a modification of it for the past few years. Other companies have been filing returns conforming to IRS regulations which required including gross deferred and uncollected premiums. These companies may need to file amended returns for open tax years if they paid taxes not due or understated usable operations/loss carry forwards. The author then goes on to review the implications of the court’s decision for companies filing amended returns.