Description: Discusses proposed regulations regarding reserve deductions for certain captives under IRC Section 1502 related to consolidated group intercompany insurance transactions.

Description: Discusses the IASB insurance contract project and the major components of the new accounting standard, including the guidance it provides regarding how to define the term “insurance contract.”

Description: Issues covered in this article include 1. Tax treatment of advance interest on policy loans, 2. Tax treatment of Credit default swaps, 3 Application of SRLY [Separate Return Limitation Year] Cumulative Register Concept to Dual Consolidated Losses, and 4. FATCA [Foreign Account Tax Compliance Act] Transitional Relief.

Description: Examines the Treasury Department and IRS guidance in determining whether a financial arrangement qualifies as insurance under federal tax law. It concerns the concepts of fortuity, homogeneity, and risk distribution, among others.

Description: This article is a discussion about the life settlement industry and the tax considerations for life insurance bought and sold in the secondary market.