New final regulations have been filed with the Federal Register by the Internal Revenue Service providing guidance on the reporting of life insurance sales or proceeds under new IRC section 6050Y and the changes to the transfer for value rules of IRC section 101 that were made by the “Tax Cuts and Jobs Act” of 2017, P.L. 115-97. The regulations will be published on October 31, 2019. T.D. 9879, RIN 1545-BO49, F.R. Doc. 2019-23559.