Description: This article begins with an overview of how the tax treatment of partial exchanges has evolved over the last decade or so, including the concerns that led the Service to resist giving taxpayers carte blanche on such transactions.The new guidance shortens from 12 to six months the window following a partial exchange in which the transaction could be called into question, and simplifies the regime by de-linking it from the exceptions to the section 72q penalty tax.4 Finally, the guidance provides coordination with recent partial annuitization legislation and answers to other open issues. This article then summarizes Rev. Proc. 2011-38 and elaborates on why the features outlined above are important and helpful improvements over prior guidance.

Description: At the beginning of this year, Representative Dave Camp (R-MI) retired from the House of Representatives after 12 terms, the last two terms serving as Chairman of the Committee on Ways and Means. Chairman Camp has played a central role in the national conversation on tax reform, primarily through a series of discussion drafts addressing international tax reform, financial products tax reform, small business tax reform and, most recently, a comprehensive tax reform discussion draft that we explored in a special edition of TAXING TIMES last fall. Kristin Norberg, TAXING TIMES editor, recently sat down with Chairman Camp to talk about his career in the House, the development of the Tax Reform Act of 2014, and some of its potential impacts on the insurance industry.

Description: This article summarizes the treatment of changes in the basis for determining life insurance tax reserves under prior law and describes the changes enacted by the Tax Cuts and Jobs Act. It further explains the procedures for changing the basis of computing reserves under the new rules as outlined in Revenue Procedure 2019-10, the IRS’s December 2018 guidance on the subject, and discusses the uncertainties that remain.

Description: Update on Life Insurer Legislative and Regulatory issues

Description: This article highlights a book called Episodes in the Life of Charles Francis McCay - Academic, Actuary. From The Actuary Vol. 24, No. 7

Description: The Actuary interviews the Executive Vice President of Mutual Benefit Life Insurance Company Newark, Donald R. Sondergald. Read about his prospects of becoming President of the Society of Actuaries and his opinions about the state of the actuarial profession. Article from The Actuary, Volume 24, Issue 7

Description: This is an example of male life expectancy at age 65 from the United States.

Description: This tables shows BMIs at common height and weight combinations.

Description: Letter from reader about the article Responsible Health Care Reform Part 2: Access to Care with a response from one of the article’s authors. From The Actuary, August/Sept 2010 Vol 7 Issue 4

Description: In this article about professional development, the new competency network is descibed and and emerging job opportunities in health care analytics are discussed.