Description: This article summarizes the treatment of changes in the basis for determining life insurance tax reserves under prior law and describes the changes enacted by the Tax Cuts and Jobs Act. It further explains the procedures for changing the basis of computing reserves under the new rules as outlined in Revenue Procedure 2019-10, the IRS’s December 2018 guidance on the subject, and discusses the uncertainties that remain.

Description: A real life situation is posed involving a management, leadership, or other business decision, and readers are invited to submit their responses to "What Would You Do?" This case study involved an actuary interviewing a candidate who seemed exceptional, until she started pushing back on the job level.