Description: This article discusses the importance of refining projected tax cash flows when making actuarial projections. It addresses specifically operating loss deductions, net operating loss carrybacks and carryforwards, capital coss carrybacks and carryforwards, cost basis of invested assets, tax DAC, tax complications caused by reinsurance and deferred taxes.

Description: Synopsis of Issue Brief prepared by Tax Work Group of the Academy-LTD Claim Reserve Assumption Basis: Use of date of incurral/date of issue of original policy.

Description: Tax code tidbits

Description: Comprehensive view of deferred taxes – theoretical & per US statutory accounting. Comparison of deferred tax treatment under other financial reporting bases. Focus is on issues with respect to policyholder liabilities.

Description: Overview of upcoming second edition of book.

Description: The article provides an introduction to tax accounting for U.S. life insurance companies, with a focus on NAIC statutory accounting concepts. The author discusses permanent and temporary differences, the current tax provision, and deferred tax accounting requirements, including admissibility testing under SSAP No. 101.

Description: This article briefly summarizes the history of the Passive Foreign Investment Company (PFIC) tax regime. Then it provides a detailed description of the PFIC proposed regulations issued in July of 2019.

Description: TAXING TIMES recently sat down with a group of retired tax actuaries to hear about how they got involved in actuarial tax matters and how their tax experience impacted their careers. Their insights will be useful for actuaries who are just starting out in the profession, as well as more seasoned actuaries.

Description: Letter from the Editor

Description: Interplay of §807(f) and the stat cap in §807(d) as there continues to be uncertainty as to whether a change to the stat reserve could be subject to §807(f).