FYI: Annuities seem complicated enough, but the tax complexities get even messier after death, warned industry blogger Michael Kitces during the AICPA Engage conference Monday in Las Vegas.
A complicating factor with annuities is that much of the tax treatment is not covered by formal Treasury regulations or even a revenue ruling from the IRS, said Kitces, director of wealth management at Pinnacle Advisory Group. “The only guidance we have on a lot of these key areas are private letter rulings.”
Regards,
Ted
https://www.fa-mag.com/news/don-t-like-annuities--you-ll-like-them-even-less-when-your-client-dies-45385.html?print
