Description
EAs and Other Tax Preparers, after passing the exam you MUST click on the link “GET YOUR CERTIFICATE” to have your hours reported to the IRS.
One of the important considerations in many financial transactions is the tax treatment the transaction is given. Often, the impact of taxation is a consideration in the purchase of life insurance every bit as much as it applies to stock purchases, bond purchases and the establishment of qualified retirement plans.
In this course we will look at the tax treatment given proceeds from life insurance policies and will consider the taxation of death benefits, cash value withdrawals, loans and surrenders.
Learning Objectives
When you have completed this course, you should be able to:
• Calculate the gain to be recognized as a result of various life insurance policy transactions, including –
o withdrawals,
o loans,
o surrenders, and
o payment of death benefits;
• Identify the changes to the customary tax treatment of life insurance policy living proceeds resulting from the policy being deemed a modified endowment contract (MEC);
• Calculate the reportable gain upon receipt of life insurance policy death benefits when the life insurance policy –
o has been transferred for a valuable consideration, or
o was included in a qualified plan;
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. Clicking on the Certificate link will show the course as 100% Complete
A course evaluation form is provided for your feedback and participants have 1 year from the date of purchase/enrollment to complete this course. .
Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/
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