Other News From IRS Insurance Report Delivered at Last!
Author: Staff Editors.
Source: Volume 09, Number 05, July/August 2010 , pp.6-6(1)
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Abstract:
Section 1211(c) of the Pension Protection Act of 2006 (PPA) directed the Treasury Department and IRS to conduct a study on charity-owned life insurance (ChOLI). Specifically, the report was to examine tax-exempt organizations’ use of life insurance contracts to share the benefits of their insurable interest in the insured individuals with investors, and whether such practices are consistent with the taxexempt status of such organizations.Keywords:
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