Description: A discussion of the many developments affecting taxation of life insurance companies and products.

Description: This article details proposed regulations issued by the IRS that clarify that a single series may be treated as an entity separate from a series organization for federal income tax purposes, even if it is not recognized as a separate entity under local law.

Description: A discussion of the Treasury’s Priority Guidance Plan for the year July 2010 through June 2011.

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: A discussion of substantially equal periodic payments, SEPPs, and the penalty tax that is associated with SEPPs, the Recapture Rule. Computation methods are also discussed.

Description: Discusses of the application of disproportionate asset acquisition rules under the life/nonlife regulations. How the amount of premiums or reserves should be measured is also discussed in detail.

Description: Author traces the tax treatment of deficiency reserves, beginning with the 1959 Act, illustrating how the decisions made in the development of the 1959 Act continue to affect the tax treatment of those reserves today.

Description: Discusses PLR 201105012, the investor control doctrine, and how the IRS concluded that shares of a Lifecycle Fund, available only through a life insurance company's separate account, still can be considered owned by the insurer and not the policyowner for federal income tax purposes even if it at least partly invests in shares of public funds.

Description: The Taxing Times editor discusses what is in the current issue as well as Obama adminstration tax proposals affecting the insurance industry such as notification requirements and COLI. Also mentioned are IRS expected guidance on deficiency reservs and 7702 defining cash surrender value.

Description: The article discusses the role played by the "Blue Books" issued by the Congress's Joint Committee on Taxation and the authority accorded them by a recent U.S. Supreme Court decision.