The U.S. Treasury Department and IRS today released for publication in the Federal Register a notice of proposed rulemaking (REG-132529-17) as guidance on the computation of life insurance reserves and the change in basis of computing certain reserves of insurance companies.
These proposed regulations implement legislative changes, including revisions to section 807 made by the 2017 tax law (Pub. L. No. 115-97, the law that is often referred to as the “Tax Cuts and Jobs Act” (TCJA)).
Read the proposed regulations [PDF 339 KB] (13 pages as published in the Federal Register)
The purpose of this report is to provide text of the proposed regulations. A more detailed discussion will be provided in a report from KPMG.
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