Proposed Regulations Issued Regarding Transfer for Value and Reportable Life Insurance Transactions

The IRS released proposed regulations on the rules added for reporting certain transatctions related to life insurance policies under IRC §6050Y and changes made to the transfer for value rules found at IRC §101(a)(3) in REG-103083-18.  The provisions were added to the law by the Tax Cuts and Jobs Act (TCJA) in late 2017.

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