Monthly LRA Update: May 2019

TAX DEVELOPMENTS

Comments Submitted to IRS Regarding Proposed Regulations for Certain Life Insurance Contract Transactions

As we reported in the March LRA Update, the IRS released proposed regulations for “Information Reporting for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules.” The proposed regulations (REG-103083-18) were published in the Federal Register on March 25 and were open for comment through May 9.