IRS Updates Life Insurance Company Reserve Regulations

September 23, 2020 by Allison Bell

The Internal Revenue Service — an arm of the U.S. Treasury Department — has completed work on two documents that might, or might not, increase U.S. life insurance companies’ federal income taxes.

One document is a set of final regulations, “Computation and Reporting of Reserves for Life Insurance Companies.” The IRS is in the process of putting the regulations into effect, by getting the regulations published in the Federal Register.

Click HERE to read the full story via ThinkAdvisor

Originally Posted at ThinkAdvisor on September 10, 2020 by Allison Bell.