Life Settlements Industry Hot And Cold On New IRS Rules
By Brian Casey and Thomas Sherman ( November 21, 2019, 4:55 PM EST) -- This article addresses recent updates to reporting requirements for the U.S. life settlements industry under the Tax Cuts and Jobs Act. We examine Internal Revenue Service informational reporting requirements for secondary and tertiary acquisitions of interests in in-force life insurance policies, implemented by the TCJA and defined under Internal Revenue Code Section 6050Y as reportable policy sales.[1]...
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