Alerts

The program shall be treated as operational since December 21, 2018 without interruption.

FEMA will issue official guidance that the NFIP will operate in a limited capacity during the shutdown. Details inside.

The U.S. Treasury issued regulations on December 13 excluding non-cash value property/casualty insurance premiums from regulations implementing the Foreign Account Tax Compliance Act (FACTA).

December 13, 2018 Under §1.1473-1(a)(1), a withholdable payment generally includes any payment of U.S. source FDAP income, subject to certain exclusions, such as for “excluded nonfinancial payments.” Excluded nonfinancial payments

Congress passed a bill that extends the National Flood Insurance Program by one week.

There are impacts for commercial brokerage from Congress all the way down to thousands of state legislative seats.

In a significant win for The Council, the proposed rules exclude insurance agency and brokerage services from the scope of the term “Brokerage Services,” which is one of the core categories of SSTBs under the statute.

The Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.

On August 1st, the Departments of Treasury, Labor and Health and Human Services released their final rule amending the definition of “short-term, limited duration insurance” (STLDI).

On July 31, President Trump signed into law a bill that reauthorizes the National Flood Insurance Program through November 30, 2018.