Description: This article describes Health Savings Accounts HSAs and the tax and other aspects of these funds.

Description: Articles on IRS private letter rulings on combination products, IRS treatment of reinsurance under section 845, and IRS waivers for failed contracts under section 7702.

Description: Discusses Notice 2011-02 as it addresses most, but not all, of the outstanding questions about health-care-insurance entities to which the $500,000 compensation rule applies.

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: 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: The proposed regulations define a class of products known as “qualifying longevity annuity contracts” (QLACs), which are excluded from the account balance used to determine required minimum distributions. By exempting longevity annuities (up to a specified limit) from the RMD rules, it is hoped that it will provide individuals under defined-contribution plans the option to use an “affordable” portion of their account balance to purchase a longevity annuity. The proposed regulations apply to tax-qualified defined-contribution plans under section 401(a), section 403(b), individual retirement annuities and accounts (IRAs) under section 408, and eligible governmental section 457 plans.

Description: A brief rundown of the articles contained in the October 2012 issue of Taxing Times.

Description: A discussion of the theoretical basis of deferred income tax accounting (accounting for actuaries), an overview of the current statutory accounting rules governing income tax accounting under SSAP 101, and some examples of the effects of SSAP 101’s admissibility test on regulatory capital.

Description: The article deals with the critique of a technical advice memorandum issued by the IRS. It basically states the author's opinion that, although the conclusion was correct, the reasoning given was inappropriate.

Description: Part II of a three part series of articles discussing the extent to which the Internal Revenue Code gives deference to NAIC and state regulatory insurance concepts and rules in insurance classification and accounting concepts for tax purposes.