Life Insurance Exchange Rules Confuse Firms, Could Cost Them
October 3, 2023 by Caleb Harshberger
Proposed regulations around Section 1035 life insurance policy exchanges may lead some companies to stumble into taxable exchanges without realizing it, IRS officials were told at a Thursday hearing.
Federal Policy Group consultant Ken Kies, representing Finseca, an association of financial planning professionals, told the IRS at the hearing—and Finseca wrote in a comment letter—that the group heard from members that some employers are misunderstanding the proposed rules. Click HERE to read the full story via Bloomberg Tax
Originally Posted at Bloomberg Tax on September 18, 2023 by Caleb Harshberger.
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