SAPWG Adopts INT 18-01

On February 8, 2018, the Statutory Accounting Principles Working Group (SAPWG) adopted INT 18-01: Updated Tax Estimates Under the Tax Cuts and Jobs Act (click here to download document).

In Summary, this interpretation provides a limited-time, limited-scope exception to SSAP No. 9 to not require recognition of changes in reasonable estimates from the Act as Type I subsequent events after the issuance of the statutory financial statements. Additionally, this interpretation provides instruction for reporting changes in deferred income taxes in the financial statements. This interpretation will be automatically nullified on Dec. 31, 2018.