July 2021

TAX DEVELOPMENTS

IRS Issues Private Letter Ruling Affirming that a Transfer of Insurance Policies from a Parent to a Subsidiary Retains Tax Exempt Status

On July 2, the IRS publicly released PLR-118450-18 (PLR 202126003) regarding a contemplated transfer of life insurance contracts within a consolidated group of corporations. The PLR involved the Parent and three subsidiaries:

To access the full monthly LRA, please register or login.