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

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: The article provides a brief description of the major financial reporting systems applicable to insurance companies. It also discusses the interplay between book and tax accounting as well as a few of the more common differences among the accounting systems.

Description: Taxing Times -- Volume 11, Issue 2, June 2015

Description: Read the October 2016 edition of Taxing Times.

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: Almost 65 years ago, the Supreme Court issued its opinion in Helvering v. Le Gierse, addressing when an arrangement should be recognized as involving “insurance” for federal income tax purposes. According to the Court, an “insurance risk” must be present, and for an insurance risk to exist, there must be “risk-shifting and risk distribution.”

Description: On January 19, 2005, the Treasury Department and the Internal Revenue Service the “Service” responded to a life insurance industry request for guidance on the treatment of qualified additional benefits “QABs” under sections 7702 and 7702A of the Internal Revenue Code through the release of Revenue Ruling 2005-6 the “Ruling”.

Description: The Taxation Section recently conducted a survey to gather information on the role of the tax actuary within insurance companies.