Description: This article explores the complexities and potential problems with respect to tax reserves that could result from a retroactive application of a principle-based reserves PBR approach for life insurance reserves.

Description: The article addresses the safe harbor guidance provided in Notice 2016-63 for 2017 CSO contracts satisfying the section 7702 reasonable mortality requirements

Description: Discussion of private letter tax rulings on the definition of Cash Surrender Value for purposes of interpreting the definition of life insurance for the policyholder's taxation of the contracts.

Description: Presented at June 1986 Spring Meeting. This session discussion is about the personal financial planning process, including a discussion of the effects of any recent and proposed legislation on individuals.

Description: Presented at October 1996 Annual Meeting. Accruals in nonqualified retirement plans have become subject to FICA taxation. In this session, IRS rules are discussed in detail with emphasis on options available for good faith years through 1996 and final regulation years starting in 1997.

Description: The year 1990 was marked by a major tax increase for life insurance companies, introducing the DAC tax, with the passage of the Omnibus Budget Reconciliation Act of 1990. This paper refers to documentation that provides a clear consice summary of the 1990 Tax Act.

Description: Basic discussion of premiums paid, investment in the contract, and basis as used in IRC provisions applicable to life insurance and annuity contracts.

Description: The author uses a reprint of an article from the very first edition of the “News from the Individual Life Insurance and Annuity Product Development Section” and assistance from the Taxation Section Council and Friends of that Council to decipher the changes between the life insurance tax environment back in the 1980s compared to today.

Description: Overview of latest developments on IRC Section 7702, IRC Section 848, market value adjusted contracts, companies in rehabilitation and Canadian issues including: • Part I income tax • Part IV capital tax

Description: This paper discusses the following cases: Rudolph V. United States- concerning taxability of agent convention travel, State Board Insurance v. Todd Shipyards Corporation- concerning premium tax for unlicensed insurers, United Services Life Insurance Company v. Delaney- concerning aviation restrictions in a life insurance policy, Metropolitan Life Insurance Company v. Wood- concerning conditional approval, Hartford Live Stock Insurance Company v. Phillips- concerning livestock insurance with an undisclosed pre-existing condition, State Security Life Insurance Company v. Kinter- concerning the due date for monthly premiums to prevent lapsation.