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: Tidbits include discussions about: Policy loans in excess of cost basis, treatment of loss adjustment expenses, LAE, for life insurance companies, and separate account investments in group trusts.

Description: Author discusses the treatment of current life insurance reserves under the tax code in determining a life insurer's taxable income, and what challenges are ahead in the era of principles-based reserves.

Description: This article outlines the IRS directive published in July 2014, which provides a safe harbor treatment for variable annuity hedging gains and losses relating to VA contracts issued before Dec. 31, 2009.

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: SSAP 101 is the new standard which replaces the current temporary guidance set forth under SSAP No. 10R regarding deferred tax assets [DTAs] and Tax Contingency Reserves.

Description: This article discusses how new and current industry tax topcs can educate the Taxation Section membership.

Description: A discussion of: the value of a life insurance contract distributed from a qualified pension plan, IRS industry director directive on the DRD for life insurance separate accounts and IRS actuaries raising new issues on AG 34 tax reserves.

Description: Discusses some of the issues the IRS and insurance companies are grappling with in the tax compliance and examination process relating to bad debts, arising from the 2008 to 2009 period, that led to the IRS and the industry agreeing to try to resolve them through the Industry Issue Resolution, or IIR, program.

Description: Read the October 2017 issue of Taxing Times published by the Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.