WebPart I. § 817. Sec. 817. Treatment Of Variable Contracts. I.R.C. § 817 (a) Increases And Decreases In Reserves —. For purposes of subsections (a) and (b) of section 807, the sum of the items described in section 807 (c) taken into account as of the close of the taxable year with respect to any variable contract shall, under regulations ... WebInternal Revenue Code (IRC) section 807(d) sets forth rules for computing the amount of life insurance reserves. Under prior law, the interest rate used in this computation is the …
Sec. 807. Rules For Certain Reserves
Webfor purposes of part I of subchapter L of chapter 1 of the Internal Revenue Code of 1986, the amount of the life insurance reserves for such contract shall be equal to the amount taken … WebSection 807(d)(6) generally defines statutory reserves as “the aggregate amount set forth in the annual statement with respect to items described in section 807(c).” Section 807(d)(2) provides that the Federally prescribed reserve is determined using the tax reserve method applicable to the contract. Section 807(d)(3) defines the try finger but hole meaning
Sec. 817. Treatment Of Variable Contracts - irc.bloombergtax.com
WebDec 31, 2004 · Editor's Note: Section 809 was repealed by Pub. L. 108-218, Sec. 205 (a), effective for taxable years beginning after December 31, 2004. In the case of any mutual life insurance company, the amount of the deduction allowed under section 808 shall be reduced (but not below zero) by the differential earnings amount. WebBloomberg Tax is pleased to offer full-text of the current Internal Revenue Code free of charge. This site is updated continuously and includes Editor’s Notes written by expert staff at Bloomberg Tax indicating when a section has been repealed or when there is a delayed effective date allowing you to see the current and future law. WebDec 31, 1983 · (a) General rule For purposes of this part, there shall be allowed the following deductions: (1) Death benefits, etc. All claims and benefits accrued, and all losses incurred (whether or not ascertained), during the taxable year on insurance and annuity contracts. (2) Increases in certain reserves tryfire