Insurance

The Financial Accounting Standards Board is considering changes in the transition requirements for its long-duration insurance standard.

Senate Democrats have reached a deal to extend the solvency of Medicare by closing a tax loophole frequently used by law firms and other partnerships.

President Biden signed an executive order to strengthen the ACA, in part by closing a loophole that prevents millions of Americans from accessing subsidies.

Don’t get stuck doing ‘a quick review’ or checking what clients have already bought.

With the market for these policies hardening, accounting firms need to be proactive to get covered.

These policies create an excellent source for the payment of estate and other transfer taxes, as well as the augmentation of family income and wealth after the death of the senior generation.

Liability risks always multiply in the run-up to April 15; this year is even worse.

Accountants’ responses to the pandemic have, in many ways, opened them up to new liability risks in 2022.

Amid the pandemic, staying informed about life insurance strategies with trusts and estates is critical.

Policies held in grantor trusts would be subject to estate tax under Democrats’ plan, the latest blow to wealth management for the affluent.