This WRNewswire bulletin builds upon the analysis of the “Tax Reform Act of 2014” or the so-called “Camp Discussion Draft” (“Camp Draft” or “Draft”) provided in AALU WRNewswire WRN# 14.02.27, Tax Reform Discussion Draft Contains Provisions Negatively Impacting Life Insurance.
House Ways & Means Committee Chairman Dave Camp (R-MI) has released a long-awaited tax reform discussion draft (“Camp Draft” or “Draft”), which contains provisions that would be detrimental to the sale of life insurance.
Thursday, February 6, 2014 …
Proposal to Modify the Tax Treatment of Corporate-Owned Life Insurance Continues to Receive Attention
The tax treatment of corporate-owned life insurance (“COLI”) continues to receive scrutiny from congressional tax writers and the Obama Administration. While progress toward reform of the Internal Revenue Code (“IRC”) may slow in light of the upcoming congressional midterm elections, a proposal that would indirectly impose a tax penalty on owners of COLI continues to…