Treasury Proposes Curbs on Use of Life and Annuities in Wealth Planning

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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