Description: This article provides a short history of the correction procedures previously developed to address compliance failures and the shortcomings of those procedures under sections 101f and 7702, laying the foundation for a sea change in the correction process.

Description: A look at the IRS initiative, the Industry Issue Resolution IIR Program, and its requested use to address the tax treatment of hedges of VA contract guarantees. The IIR Program is designed to address tax issues that are common to many business taxpayers and are frequently disputed.

Description: A discussion of the many developments affecting taxation of life insurance companies and products.

Description: Update on a broad range of insurance and investment tax matters upon which ACLI is working, including: deficiency reserve guidance, IRS guidance on PBR/AG 43, Camp Financial Product Discussion Draft, FATCA and changes to non-forfeiture laws due to low interest rates

Description: A discussion of Section 7702 and age 100 insured and the need for guidance on combined annuity and long-term care contracts

Description: An update from the ACLI staff to keep readers informed about the organization's work on tax issues affecting the life insurance industry.

Description: Updates on partial annuitization and exhanges, prevailing CSO valuation mortality tables, disclosure of offshore accounts through FATCA.

Description: A discussion around the comment letter that the ACLI submitted on the proposed regulations to implement the Foreign Account Tax Compliance Act (FATCA).

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: This article discusses several issues related to the IRS and taxation. These include partial exchanges of non-qualified annuity contracts, Long Term Care features on Annuity or Life contracts, and the applicability of the Foreign Account Tax Compliance Act [FATCA] to Life Insurance Campanies and products.