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2023 Tax Facts on Insurance & Employee Benefits (Volumes 1 & 2)

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Tax Facts on Insurance and Employee Benefits is your complete source for tax information that relates to these two critical business and financial planning areas.

With thousands of easy-to-use Q&As that cover the most critical topics, Tax Facts helps advisers of all kinds understand the tax implications of the recommendations that they make for their clients. Insurance and employee benefits are complicated tools that each carry their own set of tax issues, and advisers cannot possibly make the thorough and complete assessments that clients depend on without understanding this ever-changing area.

This two-volume edition features:

  • Thousands easy-to-read Q&As that comprehensively cover all aspects of insurance and employee benefits tax issues
  • Practical advice for any professional, including in-house HR professionals, insurance producers and third-party advisers
  • Detailed explanations of the various types of insurance products and employee benefits that are most commonly used by individuals and businesses
  • Practice Points give concise advice on how to handle real-world issues
  • Having the right tax information helps avoid problems before they become costly mistakes, as well as correct problems when they do occur

New in the 2023 Edition:

  • Changes based on the Inflation Reduction Act, including how to prepare clients for the $80 billion in IRS funding dollars, the credit for depreciable alternative fuel vehicle refueling property, and the nonbusiness energy property tax credit.
  • A new section on remote workforce, discussion of whether employers should permit remote work arrangements, the effect of remote work arrangements on health insurance coverage and the Family and Medical Leave Act, and whether an employer can require an employee to sign a non-compete agreement.
  • Discussion of proposed RMD Regulations, including rules on designated beneficiaries, multiple designated beneficiaries and spousal beneficiaries
  • An update on the Consolidated Appropriations Act of 2022, which extended the CARES Act so that HDHPs could provide first-dollar telehealth services through December, 2022
  • Analysis of the Second Circuit’s decision in United States v. Greebel, where a retirement account did not fall into the exception to the general rule that all property can be accessed as restitution in a criminal case
  • Review of IRS guidance to allow employers to rehire certain pension plan participants who retired and began receiving plan benefits
  • Discussion of Ninth Circuit and Texas District Court cases that placed limits on FBAR penalties
  • Information on the IRS’s proposed rules on multiple employer plan notices
  • Review of the latest regulations under the 2019 Tax Certainty and Disaster Relief Act.

Topics Covered:

  • Annuities and life insurance products
  • ERISA regulations for employee benefit plans
  • Health and Long-term care insurance
  • Disclosure and record-keeping requirements
  • Qualified and nonqualified compensation plans
  • Defined contribution and defined benefit deferred compensation plans
  • Funded and unfunded plans
  • PBGC requirements
  • Estate, gift tax consequences
  • And More! See the “Table of Contents” section for a full list of topics
Additional Information
SKU 2920023
Volumes 2
Publication Date November 18, 2022
ISBN 978-1-954096-66-0
Page Count Volume 1 - 1056 and Volume 2 - 1032
Author Robert Bloink, Esq., LL.M. William H. Byrnes, Esq., LL.M., CWM®
Edition 2023
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Robert Bloink, Esq., LL.M.

Robert Bloink worked to put in force in excess of $2B of longevity pegged portfolios for the insurance industry’s producers in the past five years. His insurance practice incorporates sophisticated wealth transfer techniques, as well as counseling institutions in the context of their insurance portfolios and other mortality based exposures. Professor Bloink is working with William Byrnes, Associate Dean of Special Projects of Texas A&M School of Law, on development of executive programs for insurance underwriters, wealth managers and financial planners.

Previously, Mr. Bloink served as Senior Attorney in the IRS Office of Chief Counsel, Large and Mid-Sized Business Division, where he litigated many cases in the U.S. Tax Court, served as Liaison Counsel for the Offshore Compliance Technical Assistance Program, coordinated examination programs audit teams on the development of issues for large corporate taxpayers, and taught continuing education seminars to Senior Revenue Agents involved in Large Case Exams. In his governmental capacity, Mr. Bloink became recognized as an expert in the taxation of financial structured products and was responsible for the IRS’ first FSA addressing variable forward contracts. Mr. Bloink’s core competencies led to his involvement in prosecuting some of the biggest corporate tax shelters in the history of our country.

William H. Byrnes, Esq., LL.M.

William Byrnes is the leader of National Underwriter's Financial Advisory Publications, having been appointed in 2010. He is a professor and an associate dean of Texas A&M University School of Law. He is one of the leading authors and best-selling authors in the professional markets​ with 30 books that have sold in excess of 100,000 copies in print and online, with thousands of online database subscribers. His National Underwriter publications include Tax Facts, Advanced Markets, and Sales Essentials.

Mr. Byrnes held senior positions of international tax for Coopers & Lybrand and has been commissioned and consulted by a number of governments on their tax and fiscal policy. He has served as an operational board member for companies in several industries including fashion, durable medical equipment, office furniture and technology. 

He pioneered online legal education in 1994. In 1998 he developed the first online program to achieve American Bar Association acquiescence. His Master, LL.M. and doctoral programs are leveraged by wealth managers, financial planners and life insurance underwriters.