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Treasury Proposes Curbs on Use of Life and Annuities in Wealth Planning
By
Allison Bell
News March 12, 2024 at 04:23 PM
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What You Need To Know
- Greenbook provisions may never become law or take years to become law.
- The new proposal could affect any variable life product that invests in assets purchased from the policyholder.
- The IRS would tax distributions from the affected life and annuity products as ordinary income, with a 10% penalty.
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