In ILM 201733012, the IRS concluded that the facts were insufficient to establish whether the reserves for an insurance company’s annuity contracts constituted life insurance reserves, but if the those amounts are not life insurance reserves, they are included in the “total reserves” in determining whether the taxpayer is a life insurance company.

See full ILM 201733012 by clicking here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.