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: The article provides an introduction to tax accounting for U.S. life insurance companies, with a focus on NAIC statutory accounting concepts. The author discusses permanent and temporary differences, the current tax provision, and deferred tax accounting requirements, including admissibility testing under SSAP No. 101.

Description: SSAP 10R supersedes Statement of Statutory Accounting Principles No. 10, Income Taxes “SSAP 10” and the new provisions set forth in this accounting principle are effective for year-end 2009 statutory financial statements. If elected, they provide, where appropriate, the ability to admit additional DTAs by increasing the projected realization period from one to three years along with increasing the statutory surplus limitation from 10 percent to 15 percent, provided the entity exceeds certain risk based capital “RBC” thresholds. SSAP 10R also makes explicit and gives definition to the implicit valuation allowance of SSAP 10, and increases transparency through its expanded disclosure requirements for all entities regardless of whether electing the expanded recognition provisions.

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: Synopsis of Issue Brief prepared by Tax Work Group of the Academy-LTD Claim Reserve Assumption Basis: Use of date of incurral/date of issue of original policy.

Description: SSAP 101 is the new standard which replaces the current temporary guidance set forth under SSAP No. 10R regarding deferred tax assets [DTAs] and Tax Contingency Reserves.

Description: Changes to AG 43 and what that might mean for tax purposes. Also, summary of IRS Notice 2016-63 (provides safe harbor tax guidance on use of 2017 CSO tables).

Description: This dialogue discusses the history and purpose of section 811(a) and its historic role in the computation of life insurance company taxable income and, in particular, reserves.

Description: This is a letter to the editor regarding the October 2014 Taxing Times supplement on the Camp proposals on the taxation of life insurance companies.

Description: Update from the ACLI about its continued contact with Treasury relating to AG VACARVM and Life PBR.