- The Consolidated Appropriations Act of 2016 (H.R. 2029) includes the first significant changes to Internal Revenue Code section 831(b). Two significant amendments affect some small insurance companies, including captives.
- Congress passes tax extenders bill—not only retroactively restoring popular tax breaks, but also making some of them permanent.
- Baker Tilly’s insurance professionals provided an update on recent NAIC statutory and GAAP changes affecting insurance organizations and shared insights into complex accounting standards.
- In Internal Revenue Bulletin 2015-45, the Internal Revenue Service published Rev. Proc. 2015-52 (loss payment patterns and discount factors) and Rev. Proc. 2015-54 (salvage discount factors) for 2015.
- After an above average start to the year, the third quarter of 2015 yielded mixed results.
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