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United States · Bill · S

S. 1888 (97th)

A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.

openUnited States· United States Congress· EN

Introduced

24 November 1981

Last action

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Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Sponsors

—

Subjects

Discovery layer

Source updated

3 January 2025

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to revise requirements for the tax deferral of amounts received under variable annuity contracts. Permits the use of an independent investment manager of such annuities. Allows the like-kind exchange of one annuity contract for another. Provides that the tax treatment of any payment made by a contract holder on or before September 25, 1981 shall be determined without regard to Revenue Ruling 81-225 (disallowing tax deferral of amounts received under certain variable annuity contracts).

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Documents

1 official file

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Sources

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