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: In an open-format session, panelists discuss current tax issues relating to reinsurance and address questions from the audience. Two specific tax issues addressed were: [1] tax treatment of ceding commissions in the case of surplus-relief or other financial-reinsurance transactions, and [2] IRCode Section 845b and tax-motivated reinsurance transactions. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.