IRS released Notice 2006-95
The IRS released Notice 2006-95 (with an effective date of October 12, 2006), which provides guidance regarding the use by taxpayers of either 1980 CSO or 2001 CSO in determining whether mortality charges are reasonable within the meaning of section 7702(c)(3)(B)(i). More specifically, the Notice supplements Notice 88-128, 1988-2 C.B. 540, and modifies and supersedes Notice 2004-61, 2004-2 C.B. 596. The modifications to Notice 2004-61 impact the 1980 CSO Safe Harbor, Unisex & Smoker/Nonsmoker Rules, Issue date with Death Benefit increases and decreases, and Grandfathering of contracts issued based upon previous tables.