Technical and Miscellaneous Revenue Act of 1988 TAMRA

{
  "id": "MLC-T-INS-003287",
  "term": "Technical and Miscellaneous Revenue Act of 1988 TAMRA",
  "field": "Insurance and risk management",
  "definition": "A United States federal law that made further technical corrections and miscellaneous amendments to the Internal Revenue Code, including provisions affecting the insurance industry. This Act clarified and refined aspects of the Tax Reform Act of 1986, particularly regarding the taxation of life insurance policies and annuities. It introduced the concept of a Modified Endowment Contract (MEC), altering the tax treatment of certain cash value life insurance policies.",
  "url": "https://mlchart.com/terminology/insurance/technical-and-miscellaneous-revenue-act-of-1988-tamra/"
}