American Council of Life Insurers Issues Public Comment on IRS Proposed Rule
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Mandana Parsazad, vice president for taxes and retirement security, at the
American Council of Life Insurers have issued a public comment on the
Internal Revenue Service proposed rule entitled Guidance: Passive Foreign Investment Companies and the Treatment of Qualified Improvement Property under the Alternative Depreciation System . The comment was written on
April 14, 2021, and posted on
April 16, 2021:
Treasury published final regulations (REG-111950-20; the Final Regulations ) in the
Federal Register to address Passive Foreign Investment Companies ( PFICs ) providing guidance on the treatment of income and assets of a foreign corporation for purposes of the PFIC rules and on the exception from passive income under section 1297(b)(2)(B) ( PFIC insurance exception ) of the Internal Revenue Code of 1986, as amended (the Code )./1
NAIFA Invites All Financial Services Professionals to Attend Virtual Congressional Fly-In May 25-26
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NAIFA’s Congressional Conference is the premier grassroots advocacy event for insurance and financial professionals that features policy briefings, political speakers, and virtual meetings with members of Congress.
The Congressional Conference bolsters NAIFA’s prestige among lawmakers and industry partners and enhances the association’s standing as the leading voice for insurance and financial professionals. FALLS CHURCH, Va. (PRWEB) April 16, 2021 The National Association of Insurance and Financial Advisors’ (NAIFA s) Congressional Congress, May 25-26, will be a virtual event featuring targeted advocacy training with briefings on legislative issues that affect members’ businesses, best practices for conducting congressional meetings, and tips for developing impactful long-term relationship
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ACLI Focused On ‘The Big Picture’ When It Comes To Regulation
Industry watchers have plenty to keep their eyes on when it comes to the threat of regulation disruption.
But all of that activity, at both the state and federal levels, is seemingly trending in a very good direction, said Jim Szostek, vice president and deputy, retirement security, for the American Council of Life Insurers.
Szostek is part of the all-ACLI panel discussion, The Big Picture: Regulatory and Legislative Landscape in 2021 on Monday afternoon at the virtual Life Insurance Conference from LIMRA, LOMA and LL Global.
The direction is toward best-interest rules for annuity sales a compromise between the tough fiduciary standard that registered investment advisors adhere to, and the suitability standard that regulators say is no longer sufficient.
Will life insurance reach underserved communities with help from the Biden plan?
The life insurance industry has a chance at a “moon shot” this year in terms of expanding its investment in underserved communities.
That was the word from Bruce Ferguson, senior vice president of state relations for the American Council of Life Insurers. Ferguson and two other ACLI executives spoke on the organization’s Economic Empowerment and Racial Equity Initiative on Wednesday during NAIFA’s Diversity, Equity and Inclusion Impact week.
As part of the Obama administration’s economic recovery program, life insurers invested heavily in Build America Bonds, Ferguson said. These bonds were aimed at improving infrastructure at the municipal level. The bonds raised funds to improve roads, bridges and schools as well as to upgrade water systems.