TITLE

IRS group term life plan misses the mark

AUTHOR(S)
Turbowitz, Howard
PUB. DATE
May 1999
SOURCE
Employee Benefit News;May99, Vol. 13 Issue 6, p48
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Comments on the proposed lowering of the tax table for employer-provided group term life insurance in the United States (US). Tax rate imposed by the US Internal Revenue Service (IRS); Implication of the proposal; Suggestions for the IRS.
ACCESSION #
1858539

 

Related Articles

  • IRS Revises Group Term Life Coverage Tax Table. Malynn, Brian J.; Luecke, Randall W. // hfm (Healthcare Financial Management);Feb2000, Vol. 54 Issue 2, p50 

    Provides information on the revised rates the Internal Revenue Service (IRS) uses to calculate the taxable portion of group term life insurance. How imputed value of employer-provided group term life insurance is determined; Examples of imputed income calculation; Tax treatment of imputed income.

  • A long goodbye to a tax bite. Wiener, Leonard // U.S. News & World Report;04/05/99, Vol. 126 Issue 13, p70 

    Discusses the taxation of life insurance in the United States. Most employees having employer-paid coverage; Taxation of coverage when it exceeds $50,000; Changes in the way the Internal Revenue Service (IRS) calculates extra taxable income, and how it affects insurance; New table to take...

  • Taxation of Group Term Life Insurance--Part 2. Curatola, Anthony P.; Graff, David E.; Pinero, Luis D. // Strategic Finance;Jul2000, Vol. 82 Issue 1, p16 

    The article focuses on the taxation of group term life insurance (GTLI) in the United States. Several types of GTLI plans are described, as well as the application of section 79 of the Uniform Premium Table rules to GTLI plans. Several examples of how section 79 would affect policies are...

  • The IRS attack on equity split-dollar insurance. Epstein, Charles D.; Geller, Sheldon M. // CPA Journal;Oct96, Vol. 66 Issue 10, p66 

    Examines the tax issues concerning equity split-dollar insurance. How split-dollar works; Internal Revenue Service's target of excess cash value; Use of life insurance as tax shelter.

  • COLI loan interest nondeductible.  // CPA Journal;May98, Vol. 68 Issue 5, p12 

    Reveals that `The BNA Daily Tax Report,' dated March 4, 1998, has reported on the pre-publication release of a technical advice memorandum that declares most interest on loans taken out to pay corporate owned life insurance is nondeductible. Requirements under IRC section 264; Instance where...

  • Taxable insurance policy exchange.  // Practical Accountant;Jan96, Vol. 29 Issue 1, p16 

    Tells of a certain ruling that deals with various spouse-to-spouse exchanges of life insurance policies that will give recognizable tax gain under Section 1035.

  • Five Due Diligence Tips For Advanced Plans. King, Carole Ann // National Underwriter / Life & Health Financial Services;12/11/2000, Vol. 104 Issue 50, p7 

    Discusses the issues to consider in performing due diligence on life insurance tax concepts to be presented to clients. Government approval for the concept; Legal opinion on the tax consequences of the marketing concept.

  • Clarify tax consequences before trading policies. Ioannides, Kathryn K. // Best's Review / Life-Health Insurance Edition;Mar1996, Vol. 96 Issue 11, p88 

    Focuses on the need to clarify tax consequences in the United States on the trading of individual life insurance policies for second-to-die policies. Questions posed by the taxpayer in the US Internal Revenue Service's (IRS) Private Letter Ruling 9542037; Reply of the IRs regarding taxation...

  • Proposed tax could hamper some German retirement plans. Kirk, Don Lewis // Business Insurance;8/21/95, Vol. 29 Issue 34, p15 

    Reports on the planned tax increase on the life insurance that many German companies use to fund retirement plans. Aim of the government to boost general revenues; Types of pension plans targeted for tax hikes; Percentage increase.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics