As a partner with Davis & Harman LLP, Craig Springfield specializes in insurance company and product taxation and working generally on Federal tax matters. He practices extensively in the areas of annuity, life insurance, and long-term care insurance product taxation, including with respect to variable insurance products. In addition, he works extensively before the National Office of the Internal Revenue Service and the Department of the Treasury to address tax compliance-related issues, including under sections 7702 and 7702A of the Code (e.g., addressing compliance failures). He has worked on various legislative matters, e.g., the tax treatment of combination insurance products and the Medicaid rules governing qualified State long-term care insurance partnerships.
Craig is a frequent speaker and author. Articles he has authored or co-authored include: "Proposed Model Closing Agreements for Life Insurance Contract Failures: Comments Requested," Taxing Times (May 2007); "Age Defined: IRS Issues Final Regulations on 'Attained Age' Under Section 7702," Taxing Times (May 2007); "New Rules and Opportunities for Long-Term Care Insurance Combination Products," Taxing Times (May 2007); "More on Reasonable Mortality: IRS Issues Notice 2006-95," Taxing Times (Feb. 2007); "Private Rulings Regarding 'Cash Surrender Value' Under Section 7702," Taxing Times (Sept. 2006); "Good Reasons for Removing Tax Uncertainty for LTC-Annuity Combos," National Underwriter: Life & Health (May 15, 2006); "New Proposed Regulations on 'Attained Age' Under IRC Section 7702," Taxing Times (Sept. 2005); "Affordable Long-Term Care Coverage: The Tale of 'Combination' Products," Journal of Financial Service Professionals (July 2005); "Rev. Rul. 2005-6: Guidance on QABs Under IRC Sections 7702 and 7702A," Insurance Tax Review (April 2005); "Notice 2004-61: Guidance on Mortality Under IRC Section 7702," Product Matters! (March 2005); "The New Tax Rules Governing Long-Term Care Insurance," Journal of the American Society of CLU and ChFC (Sept. 1997, Nov. 1997, and Jan. 1998).
Education:
LL.M., Taxation, New York University (1991)
J.D., University of Florida (1990) with honors
M.S., Accounting, University of Central Florida (1987)
B.S.B.A., University of Central Florida (1985) magna cum laude
Bloomberg Tax Management Portfolios
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Income Tax Definition of Life Insurance and Annuity Contracts (Portfolio 528)
Bloomberg Tax Portfolio 528 T.M., Income Tax Definition of Life Insurance and Annuity Contracts, addresses the definition of a life insurance or annuity contract for federal tax purposes.