Friday, 07 December 2018 Legislative progress slowed in Washington this week in remembrance of President George H.W. Bush. The House cancelled votes for the week, but not before advancing a two-week stopgap spending measure that extends the deadline for passing a government spending bill to December 21st. This will give Democrats and Republicans more time…
AALU Library
The AALU Library gives you access to all your premium content. With all the best information organized in one place and searchable, it has never been easier to find the information to help you maximize your business. From deeper dives into diverse topics with our Washington Report Marketplaces to issue one-pagers and webinars featuring industry leaders with decades of experience, the AALU Library is your one-stop-shop for policy and professional updates.Economic benefit (“EB”) GSDs involve a split-dollar arrangement between a parent and his life insurance trust to fund the trust’s purchase of life insurance on the parent’s child. For wealth transfer planning purposes, EB GSDs assume that the present value of the repayment owed to the parent for premium payments is subject to a significant…
Generational Split Dollar – IRS Argues Inside Build Up is Retained “Income” of Decedent Triggering Estate Inclusion of Cash Value
Topics: Split-dollar
There has been significant Tax Court activity this year related to generational split dollar arrangements (GSDs), which involve split dollar arrangements between a parent and the parent’s irrevocable trust to fund the trust’s purchase of a life insurance policy typically insuring a child. At the GSD’s termination (death of the insured child or earlier agreement…
Friday, 30 November 2018 Bloomberg Tax: IRS Issues Proposed Regulations on Estate and Gift Tax Exclusion Clawbacks The IRS recently proposed regulations that clarify it will not “clawback” gifts made under the temporarily increased estate and gift tax exemption levels in the Tax Cuts and Jobs Act (TCJA) should those levels be decreased in the…
IRS Issues Proposed Regulations on Relaxed Rules for 401(k) Hardship Distributions
Topics: 401(k), Qualified Plans
The 2018 Budget Act changes to the hardship distributions rules will make it easier for participants to take these distributions. The changes, as described in the Proposed Regulations, include (1) expanding the contributions and earnings that are eligible to be received in a hardship distribution (including post-1988 earnings on 401(k) deferrals), (2) expanding the permitted…
Want to see the type of impact an Ambassador can have on the legislative process? Watch Gib Surles and Rep. Kevin Brady talk about their relationship and how they talk through issues to get to the best policy outcome. Developed over more than a dozen years their relationship was critical to giving AALU a voice…
Friday, 16 November 2018 The midterm election results are looking better for Democrats after a number of unsolved races were called over the last week. In the House, Democrats have now picked up 31 seats, giving them a 231-198 advantage with 6 races yet to be called. In the Senate, Democrat Kristen Sinema’s victory in…
FOR IMMEDIATE RELEASE …
Friday, 09 November 2018 While the 116 Congress will not convene until January, the freshman class will arrive in D.C. next Tuesday to begin their orientation. As of this morning there are twelve House races and three Senate races still too close to call, but regardless of their outcome this group of new lawmakers will...
Tired of the bickering about the elections? Want to cut through the noise and understand what happened and what it means for your business and your clients? Tune in for a special AALU Webinar: The Votes are Cast and Counted: What does it mean for you? Josh Holmes and Chris Morton will break it all...