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    Reporting Life Insurance Transactions by S Corporations

    Article There is room for disagreement, if not confusion, over how to report transactions involving life insurance on the tax returns of S corporations
    Published on July 25, 2013

    Guidance on S Corporation Life Insurance Premiums Raises Questions

    Article The IRS recently issued long-awaited guidance on the treatment of life insurance premiums paid and life insurance proceeds received by an S corporation
    Published on May 10, 2010

    Taxability of Employer-Owned Life Insurance Contracts

    Article Sec. 101(j)(1) limits the amount of tax-free treatment a person (which can be any type of entity) can receive from the proceeds on an employer-owned life insurance (EOLI) contract
    Published on January 28, 2011

    Income from Sales or Settlements of Life Insurance Contracts

    Article The IRS has provided guidance on the amount and character of income that taxpayers recognize in the surrender or sale of life insurance contracts and has provided guidance to purchasers of life insurance contracts for profit
    Published on January 28, 2011

    Guidance on Sales and Purchases of Life Insurance Contracts

    Article The IRS released two revenue rulings that provide guidance for sellers and purchasers of life insurance contracts
    Published on January 28, 2011

    Tax Court Rules on Valuation of Life Insurance Policy in Bargain Sale

    Article The Tax Court held that where the profit-sharing plan of an S corporation wholly owned by the taxpayers distributed to them a life insurance policy on their lives, the taxpayers could not reduce the taxable value of the policy by the amount of the surrender charge for purposes of determining
    Published on January 28, 2011

    Pension Rescue and the Fair Market Value of a Permanent Life Insurance Policy

    Article ...Pension rescue” is a sales concept used to help sell life insurance. The problem with pension rescue is that it is based on a valuation of the life insurance policy that may not hold up to IRS scrutiny
    Published on November 30, 2012

    Two Recent Revenue Rulings Clarify Tax Treatment of Life Settlements

    Article The IRS issued two revenue rulings discussing the taxation of life settlement transactions. Rev. Rul. 2009- 13 clarifies the tax implications of the surrender or sale of a life insurance policy by the original policyholder, while Rev. Rul. 2009-14 discusses the tax ramifications of certain transactions to an investor who
    Published on July 13, 2012

    Guiding Clients Through the Transfer-for-Value Maze

    Article ...Editor: Michael David Schulman, CPA/PFS One of the most attractive aspects of life insurance as an estate and financial planning tool is the tax treatment of the death proceeds. Generally, the proceeds of a life insurance policy received by a beneficiar
    Published on May 12, 2010

    Court Rules on Sale of Ownership Rights in Insurance Company Demutualization

    Article ...trust was entitled to a refund of taxes paid on the proceeds of the sale of stock the trust received in exchange for its ownership rights in a mutual life insurance company when the company was demutualized
    Published on March 11, 2011

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