Corporate-Owned Life Insurance Teleconference

Strafford Publications, Inc. is sponsoring a live 100-Minute CPE teleconference with tnteractive questions and answers on October 25, 2007 entitled Corporate-Owned Life Insurance: Mastering the New Accounting Policies How to Implement FASB Issues 06-4 and 06-5.

Here is a description of the program:

Companies invest in life insurance products to protect from the loss of a key executive, enrich an executive’s compensation package, and even to help finance benefit plans. However, these investments trigger complex accounting and tax issues, such as when to recognize the benefits and liabilities.

Recently, FASB released two consensus documents, Issue No. 06-4 and Issue No. 06-5, which describe when companies should recognize future death-benefit obligations with split-dollar arrangements and how much to declare on amounts to be realized from a corporate-owned life insurance product.

However, the IRS has muddied the waters for accounting firms and their clients yet again with a letter ruling holding that employees face tax liability on their shares of split-dollar benefits.

Listen and participate from your telephone as our panel of seasoned accounting professionals and expert consultants provides you with their perspectives on the new guidance and how to prepare your staff and your clients to adapt to the new issues.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this program to my attention.