Taxation in the United States

Everest Re Group Reports Third Quarter 2020 Results; Net Income of $243.1 Million and 16% Growth in Gross Written Premium Year Over Year

Thursday, October 29, 2020 - 8:15pm

Everest Re Group President & CEO Juan C. Andrade commented: Everest is benefitting from a flight to quality and strength in the reinsurance and insurance markets.

Key Points: 
  • Everest Re Group President & CEO Juan C. Andrade commented: Everest is benefitting from a flight to quality and strength in the reinsurance and insurance markets.
  • Everests core strength is evidenced by our third quarter 2020 results where we achieved 16% growth in gross written premium, an improved attritional combined ratio of 85.8% and net income of $243 million.
  • $125 million of net pre-tax losses related to the Pandemic, primarily IBNR and attributed $110 million to reinsurance and $15 million to insurance.
  • After-tax operating income (loss) consists of net income (loss) excluding after-tax net realized capital gains (losses) and after-tax net foreign exchange income (expense) as the following reconciliation displays:

Employers most commonly offer disability, life, and AD&D on a voluntary basis, according to a recently released Eastbridge study

Thursday, October 29, 2020 - 3:00pm

In addition, many employers offer a variety of non-traditional products including identify protection, legal services, pet insurance, telemedicine, and financial wellness education and tools.

Key Points: 
  • In addition, many employers offer a variety of non-traditional products including identify protection, legal services, pet insurance, telemedicine, and financial wellness education and tools.
  • The top five products that employers expressed interest in offering on a voluntary basis in the future are cancer, long-term care, critical illness, hospital indemnity/supplemental medical, and legal plans.
  • By employer size, employers with more than 1,000 employees are the most likely to drop one or more benefits.
  • is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada.

LifeYield Unlocks $2.3B of Potential Lifetime Social Security Benefits in Q3 2020

Thursday, October 29, 2020 - 1:00pm

LifeYield LLC , the market leader in cloud-based solutions helping advisors maximize retirement income for their clients, today reports that advisors using LifeYields Social Security Advantage tool between July 1, 2020, and Sept. 30, 2020, have added an average of $130,000 per client household in potential lifetime Social Security benefits.

Key Points: 
  • LifeYield LLC , the market leader in cloud-based solutions helping advisors maximize retirement income for their clients, today reports that advisors using LifeYields Social Security Advantage tool between July 1, 2020, and Sept. 30, 2020, have added an average of $130,000 per client household in potential lifetime Social Security benefits.
  • The average reflects the difference between clients initial Social Security filing strategies and the optimal strategies generated by LifeYields Social Security Advantage tool.
  • The average of $130,000 per household in potential lifetime Social Security benefits identified in Q3 of 2020 speaks to the peace of mind advisors can deliver to clients with optimal filing strategies.
  • Since January 2020, LifeYield has identified approximately $7,662,819,070 in potential added Social Security benefits unlocked by advisors using its technology.

Former IRS Criminal Investigation Chief, Don Fort, Joins Kostelanetz & Fink

Thursday, October 29, 2020 - 10:00am

NEW YORK, Oct. 29, 2020 /PRNewswire/ -- Kostelanetz & Fink, LLP , is pleased to announce that John D. (Don) Fort, the former Chief of the Internal Revenue Service's Criminal Investigation (CI) Division, has joined the firm as Director of Investigations.

Key Points: 
  • NEW YORK, Oct. 29, 2020 /PRNewswire/ -- Kostelanetz & Fink, LLP , is pleased to announce that John D. (Don) Fort, the former Chief of the Internal Revenue Service's Criminal Investigation (CI) Division, has joined the firm as Director of Investigations.
  • Mr. Fort departed the IRS at the end of September, after three years atop the IRS's criminal enforcement arm and nearly 30 years at the agency.
  • Mr. Fort also will play a central role in the firm's internal investigations practice and will advise clients on compliance regimes.
  • "We couldn't be more thrilled to welcome Don to K&F, and we're confident that Don will strengthen and supplement Kostelanetz & Fink's already deep bench in civil and criminal tax controversies and white-collar criminal defense," said partner Bryan Skarlatos.

Former IRS Criminal Investigation Chief, Don Fort, Joins Kostelanetz & Fink

Thursday, October 29, 2020 - 10:00am

NEW YORK, Oct. 29, 2020 /PRNewswire/ -- Kostelanetz & Fink, LLP , is pleased to announce that John D. (Don) Fort, the former Chief of the Internal Revenue Service's Criminal Investigation (CI) Division, has joined the firm as Director of Investigations.

Key Points: 
  • NEW YORK, Oct. 29, 2020 /PRNewswire/ -- Kostelanetz & Fink, LLP , is pleased to announce that John D. (Don) Fort, the former Chief of the Internal Revenue Service's Criminal Investigation (CI) Division, has joined the firm as Director of Investigations.
  • Mr. Fort departed the IRS at the end of September, after three years atop the IRS's criminal enforcement arm and nearly 30 years at the agency.
  • Mr. Fort also will play a central role in the firm's internal investigations practice and will advise clients on compliance regimes.
  • "We couldn't be more thrilled to welcome Don to K&F, and we're confident that Don will strengthen and supplement Kostelanetz & Fink's already deep bench in civil and criminal tax controversies and white-collar criminal defense," said partner Bryan Skarlatos.

New Campaign by National Police Support Fund to Reach 800,000 Supporters in Final Weeks Before Election

Wednesday, October 28, 2020 - 11:55am

"National Police Support Fund will be engaging and activating hundreds of thousands of pro-police citizens in the coming weeks before the election on November 3rd."

Key Points: 
  • "National Police Support Fund will be engaging and activating hundreds of thousands of pro-police citizens in the coming weeks before the election on November 3rd."
  • National Police Support Fund is a national political organization that brings together Americans from all walks of life united under the banner of respect and support of our nation's law enforcement officers.
  • National Police Support Fund is committed to promoting the interests and well-being of American police officers within the public policy process through grassroots political action.
  • National Police Support Fund is a national political organization organized under Section 527 of the IRS Tax Code.

Monarch Private Capital Finances Affordable Housing Development in California

Wednesday, October 28, 2020 - 12:00pm

To bring the project to fruition, Monarch partnered with CRP Affordable Housing & Community Development , a full-service, vertically integrated real estate firm, and Hunt Capital Partners , a national syndicator of Federal and State Low Income Housing, Historic and Solar Tax Credits.

Key Points: 
  • To bring the project to fruition, Monarch partnered with CRP Affordable Housing & Community Development , a full-service, vertically integrated real estate firm, and Hunt Capital Partners , a national syndicator of Federal and State Low Income Housing, Historic and Solar Tax Credits.
  • This new affordable housing development would not be possible without The California Housing Finance Agency and their 2019 preliminary awards to eight mixed-income multifamily housing developments, including Valencia Pointe.
  • The awards come from Senate Bill 2, the Building Homes and Jobs Act, which provides a permanent funding source for affordable housing in California.
  • Monarch is committed to providing affordable housing in California, said Brent Barringer, Managing Director of LIHTC at Monarch.

Landmark Study Finds Number of Protected Households Rises for First Time Since 2018

Monday, October 26, 2020 - 2:21pm

WASHINGTON, Oct. 26, 2020 /PRNewswire/ --For the first time since the Alliance for Lifetime Income launched the Protected Lifetime Income Study in 2018, the number of protected households in the US has increased.

Key Points: 
  • WASHINGTON, Oct. 26, 2020 /PRNewswire/ --For the first time since the Alliance for Lifetime Income launched the Protected Lifetime Income Study in 2018, the number of protected households in the US has increased.
  • Protected households are those that have a source of protected incomea pension or an annuityto supplement what they receive from Social Security.
  • The share of protected US households grew from 37% in 2019 to 40% this year, representing approximately 3.1 million newly protected households.
  • While this year's study revealed a record number of protected households, it also highlights the fact that more progress is needed, as 60% of American households are still unprotected.

RMB Capital’s James Rosselle Named to 2020 Financial Times 401 Top Retirement Advisers

Thursday, October 22, 2020 - 3:00pm

RMB Capital (RMB), an independent investment advisory firm with more than $8.8 billion in assets under management1 (estimated as of September 30, 2020), announced that James Rosselle, vice president and director of RMB Retirement Plan Solutions, was recently named to the 2020 edition of the Financial Times 401 Top Retirement Advisers.

Key Points: 
  • RMB Capital (RMB), an independent investment advisory firm with more than $8.8 billion in assets under management1 (estimated as of September 30, 2020), announced that James Rosselle, vice president and director of RMB Retirement Plan Solutions, was recently named to the 2020 edition of the Financial Times 401 Top Retirement Advisers.
  • The list recognizes the top financial advisers who specialize in serving defined contribution (DC) retirement plans across the United States.
  • RMB Retirement Plan Solutions examines all aspects of an organizations retirement plan, from plan design and administration to total plan costs.
  • The Financial Times 401 Top Retirement Advisors is an independent listing produced annually by Ignites Research, a division of Money-Media, Inc., on behalf of the Financial Times (October 2020).

Aadil Zaman Named to 2020 Financial Times 401 Top Retirement Advisers

Thursday, October 22, 2020 - 1:38pm

NEW YORK, Oct. 22, 2020 /PRNewswire/ --Wall Street Alliance Group is pleased to announce that, Aadil Zaman , has been named to the 2020 edition of the Financial Times 401 Top Retirement Advisers.

Key Points: 
  • NEW YORK, Oct. 22, 2020 /PRNewswire/ --Wall Street Alliance Group is pleased to announce that, Aadil Zaman , has been named to the 2020 edition of the Financial Times 401 Top Retirement Advisers.
  • The list recognizes the top financial advisers who specialize in serving defined contribution (DC) retirement plans across the U.S.
  • This is the sixth annual FT 401 list, produced independently by Ignites Research, a division of Money-Media, Inc., on behalf of the Financial Times.
  • Financial advisers from across the U.S. applied for consideration, having met a set minimum of requirements.