Description: Discusses why it is so important for actuaries to actively monitor evolving issues with taxation of life insurance companies and products, and how to monitor the issues and get involved with the process.

Description: This article describes the effect of different valuation interest rates and levels of surplus on income tax paid by life insurance companies via Phase 1 of the Federal Income Tax Act of 1959.

Description: The U.S. Technical and Miscellaneous Revenue Act of 1988 has created a very significant administrative problem for companies having a large block of “grandfathered” universal life business. The problem is that seemingly harmless future changes in benefits are categorized as “material changes,” causing a policy to lose its grandfather status and subjecting it to the “modified endowment” rules.

Description: The Phase 3 tax is the description given to the federal income tax imputable to amounts withdrawn from the Policyholders Surplus Account maintained under the federal income tax law. This article discusses certain facets of the federal income Phase 3 tax as it relates to these withdrawals. Still significant for a large health insurer that has been in existence since before 1984 should health care become nationalized.

Description: Recap of two summer 1967 tax court decisions stemming from the 1959 Life Insurance Company Income Tax Act

Description: Article from The Actuary September 1989 – Volume 23, No. 8 discusses TAMRA: the U.S. Technical and Miscellaneous Revenue Act of 1988.

Description: Article from The Actuary, December 1986 – Volume No. 20, Issue No. 10 that talks about The Tax Reform Act of 1986.

Description: Article Book Review by Ray in The Actuary, January 1979, Volume 13, Number 1

Description: Reviews Elmer R. Benedict's book entitled Protecting Retirement Against Inflation, which present a broad program for equitable sharing of the inflation burden. The kingpin is an income adjustment, utilizing income taxes, designed to restore the purchasing power of the retired, disabled and surviving spouses.

Description: After the 1986 tax-reform legislation, SPWL currently enjoys a tax treatment preferential to many other financial products. The author suggests that this distinction may not last long.