The bill S. 4740, titled the “Secure Family Futures Act of 2024,” proposes changes to the Internal Revenue Code of 1986. It aims to exclude certain debts held by insurance companies from being considered capital assets. This change affects how these companies report financial...
Simple Explanation
The Secure Family Futures Act of 2024 is a plan to change how insurance companies count some of the money they owe, so they might pay a different amount in taxes. It decides which insurance companies can use these new rules and when they start.