Description: Read the June 2018 issue of Taxing Times published by the The Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article discusses tax and accounting issues that arise under a recently-issued Chief Counsel Advice in which the IRS applied a life insurance company tax rule to a nonlife company that issues life insurance products

Description: This article summarizes a recent revenue ruling concerning the insurance company qualification of an affiliate that reinsures retiree health benefits under an arrangement entered into by a VEBA.

Description: Frequently Asked Questions on tax reserve methods and assumptions, based on law in effect prior to 12/31/2017.

Description: The article discusses the practical impact of recently Rev. Rul. 2014-7, which modified and supercedes Rev. Rul. 2007-54 by republishing the position of what variable annuity contract reserves are taken into for tax purposes without addressing the issue of how to calculate required interest for separate accounts; Rev. Rul. 2014-7 also obsoleted Rev. Rul. 2007-61, which had suspended Rev. Rul. 2007-54.

Description: The guidance provided by the proposed regulations specifically related to insurance is the first detailed set of rules provided under FATCA and incorporates many of the topics identified as issue areas in the comment letters received by Treasury from domestic and foreign insurance companies and trade associations over the past two years. This article focuses on the provisions that apply specifically to insurance companies.

Description: Addresses the question: “If it is accepted that reserves should be pre-tax, why should required capital be post-tax?”

Description: Dialogue between Peter Winslow, a tax attorney, and Edward Robbins and Christian DesRochers, tax actuaries, on selected tax issues related to proposals to change statutory reserving from a formula-based methodology to a principles-based approach.

Description: Status update on the Separate Account Dividends Received Deduction, SADRD.

Description: Tidbits relate to contingent deferred annuities, wellness benefits in qualified long-term care contracts, and reactivating the active financing exception for insurance companies.