Description: Presented at April 1986 Spring Meeting. This session discussion is about the current issues relating to compliance with the Tax Equity and Fiscal Responsibility Act of 1982 'TEFRA', the Deficit Reduction Act of 1984 'DEFRA' and the Retirement Equity Act of 1984 'REA'.

Description: The author uses a reprint of an article from the very first edition of the “News from the Individual Life Insurance and Annuity Product Development Section” and assistance from the Taxation Section Council and Friends of that Council to decipher the changes between the life insurance tax environment back in the 1980s compared to today.

Description: Presented at April 1985 April Meeting. This session discussed: Annuities, Non-participating life products, Participating life products, Variable products

Description: This presentation is a panel discussion from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. In this session dealing with life insurance company federal income tax, the panelists discuss the impact of the so-called deferred acquisition cost [DAC] or proxy DAC tax created by the Omnibus Budget Reconciliation Act [OBRA] of 1990. Topics include stock versus mutual company reactions and response, the impact on mergers and acquisitions, reinsurance, and consolidation, product changes, small company problems and opportunities, new categories of specified insurance contracts, and the impact on Canadian companies. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 4B.

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

Description: The panelists from this session at the June 2000 meeting of the Society of Actuaries in San Diego compare and contrast separate account products sold in the U.S. and Canada in both the qualified/registered retirement market and the nonqualified market.

Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss issues related to capitalization of policy acquisition expense, the so-called “DAC Tax,” from the Omnibus Budget Reconciliation Act of 1990, including provisions of the act and reinsurance questions. Latest developments in other company tax areas are covered, including court cases, regulatory matters, and audit issues. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: As part of tax reform introduced effective at the beginning of 1988, a major revision of the taxation of life insurance companies operating in Canada occurred. This guide highlights specific legislation, discussion papers, policyholder taxation and history of such legislation.

Description: This article discusses two recent 2005 IRS private letter rulings that involved the meaning of “cash surrender value” as used under code section 7702, which defines a life insurance contract for federal income tax purposes.