We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Back To The Future: The Insurance Industry And Tax Reform

Law360 (May 16, 2018, 4:35 PM EDT) -- Over the years, Congress has repeatedly overhauled the insurance-specific provisions of the Internal Revenue Code, which are found in Subchapter L.[1] For example, under the Revenue Act of 1918, both investment income and underwriting income were included in the taxable income of all insurance companies.[2] By 1921, Congress had been persuaded that this treatment did not accurately reflect the nature of the life insurance enterprise.[3] For the first time, life insurance companies were taxed on investment income only, while all other insurance companies continued to be...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.