Description: A discussion of the Open Transaction Doctrine and how it was applied to prevent current inclusion of taxable gains resulting from the sale of stock acquired in a demutualization.

Description: In March 2010, Congress codified the judicial economic substance doctrine in an effort to raise revenue as part of the health care reform legislation.1 The law provides for strict liability penalties of 20 percent for understated taxes and refund claims that result from transactions that lack economic substance. In July 2011, the commissioner of the Large Businessand International Division LB&I of the IRS evidently recognized this state of uncertainty and issued very helpful guidance to all LB&I examiners to fill the void on guidance for economic substance..

Description: This article discusses several issues related to the IRS and taxation. These include partial exchanges of non-qualified annuity contracts, Long Term Care features on Annuity or Life contracts, and the applicability of the Foreign Account Tax Compliance Act [FATCA] to Life Insurance Campanies and products.

Description: An update from the ACLI staff to keep readers informed about the organization's work on tax issues affecting the life insurance industry.

Description: Read the latest ACLI Update.

Description: This article briefly examines the life of 19th century actuary Charles Francis McCay. From The Actuary Vol. 24, No. 7

Description: This table shows the results of an attribution of the major contributing factors to the rate of mortality improvement in cardiovascular disease between 1980 and 2000.

Description: Chart 1 is a graphical view of the SOA's Education Committee Structure.

Description: This article discusses the successes and plans for the SOA’s University Outreach Program.

Description: Q&A with actuary and author Bradley M. Smith. In this interview, Smith discusses his business philosophies and the risks he has taken. His new book, What Do You Think?, is also reviewed.