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: Presented at June 1986 Spring Meeting. This session discussion is about the impact of the Tax Equity and Fiscal Responsibility Act 'TEFRA', the Deficit Reduction Act 'DEFRA', and any new enacted or proposed revisions in the Internal Revenue Code on insurance company taxes, employee benefits and insurance products.