Description: This session from the 1984 SOA Atlanta Meeting covers pending tax legislation with respect to life insurance companies, policyholder taxation and the current legislative outlook.

Description: This session from the 1984 SOA Salt Lake City Meeting reviews the status of Federal Income Taxation with respect to Life Insurance Companies, Policyholder Taxation and the Current Legislative Outlook.

Description: This session from the 1981 SOA Fall Meeting discusses the current status of proposals to change the 1959 Life Insurance Company Federal Tax Act, the tax status of modified coinsurance and other current tax developments including the taxation of several of the new products being developed such as Universal Life and certain annuities. We will also talk about some recent tax rulings which involved wrap-around annuities. From Record of the Society of Actuaries 1981, Volume 7, No. 4.

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

Description: This paper examined two interrelated aspects of federal income taxation of life insurance companies. First, a common-sense approach to the Life Insurance Company Income Tax Act of 1959 was developed. Second, marginal tax rates for Phase III companies was developed.

Description: Read the June 2019 issue of Taxing Times, published by the Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This session at the SOA 1990 Hartford Spring Meeting is about cash flow testing as it relates to taxes including the regulatory background, current practices, and the effect of using tax versus statutory values in cash flow testing.

Description: This paper, chapter IV of the 1987 Valuation Actuary Handbook, presents a discussion and comparison of different financial reporting bases, including statutory, GAAP, modified GAAP for internal management purposes, tax, and appraisals. The author discusses the different audiences for financial information and which reporting bases are important to which audiences. The author also discusses the relationship between the valuation process and both the financial management and pricing processes, and the importance of the actuary’s responsibilities.

Description: Section 807d of the IRC provides that the deductible reserve for a life insurance contract is the greater of net surrender value or the Federally Prescribed Reserve FPR calculated under prescribed interest rate and mortality assumptions, but in no event can the tax reserve exceed “aggregate statutory reserves” i.e., the statutory cap. This article logically concludes that deficiency reserves are included in the calculation of the statutory cap.