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In the Beginning... A Column Devoted to Tax Basics
example, amounts an employer spends for a health care plan for its employees is completely excluded from ... another IRA. In the plan world, a “direct” rollover refers to a direct trustee-to-trustee transfer. An “indirect” ...- Authors: Michael L Hadley
- Date: Oct 2023
- Competency: Technical Skills & Analytical Problem Solving
- Publication Name: Taxing Times
- Topics: Pensions & Retirement; Pensions & Retirement>Defined benefit plans; Pensions & Retirement>Defined contribution and 401k plans; Pensions & Retirement>Pension legislation and regulation; Pensions & Retirement>Plan design; Public Policy; Public Policy; Pensions & Retirement>Pension risk transfer
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IRS Addresses Tax Treatment of Non-Qualified Annuities Issued to Trusts
Insurer represented that the sole annuitant is the “primary annuitant” within the meaning of Section 72(s)(6)(B) ... Insurer represented that the sole annuitant is the “primary annuitant,” as in the Grantor Trust Scenario.- Authors: Eric Lanning, Bryan W Keene
- Date: Nov 2020
- Competency: Technical Skills & Analytical Problem Solving
- Publication Name: Taxing Times
- Topics: Annuities; Annuities>Individual annuities; Annuities>Marketing and distribution - Annuities; Annuities>Payout annuities; Public Policy; Annuities>Deferred annuities
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Why Do Limitations Apply to Owners of Life Insurance Contracts, Particularly COLI?
legislation, which is discussed later. Today, the primary interpretive questions involving Section 264(a) ... similar to those Congress had previously denied for direct premium payments. If the premiums themselves were ...- Authors: Bryan W Keene, Mark Smith
- Date: Jun 2019
- Competency: External Forces & Industry Knowledge; Technical Skills & Analytical Problem Solving
- Publication Name: Taxing Times
- Topics: Life Insurance; Public Policy
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Final Regulations Under Sections 101 and 6050Y
to comply with Form 1099-LS requirements if the direct owner of a policy does not provide sufficient ... pany’s perspective, it is worth noting that only a direct acquirer is required to furnish the RPS statement ...- Authors: Craig R Springfield, Kristin R Norberg
- Date: Feb 2020
- Competency: Technical Skills & Analytical Problem Solving
- Publication Name: Taxing Times
- Topics: Life Insurance; Public Policy
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Proposed Regulations on Reporting Requirements for Transfers for Value of Life Insurance Contracts
1042-S Mar. 15 To From To From To To To Direct RPS Transfer to foreign person Reportable death ... apparently file and furnish Form 1099-SB following the “Direct RPS” section of this chart. e. If the issuer does ...- Authors: Society of Actuaries
- Date: Nov 2019
- Competency: Communication; Technical Skills & Analytical Problem Solving
- Publication Name: Taxing Times
- Topics: Life Insurance; Public Policy