Daily Tax Update - January 13, 2015: IRS Issues Small Wind Energy Property Guidance

IRS Issues Small Wind Energy Property Guidance:  In Notice 2015-4, the IRS provides guidance concerning the performance and quality standards that small wind energy property must meet to qualify for the energy credit under Section 48.

IRS Sets Interest Rates Used for Insurance Reserve Calculations:  In Revenue Ruling 2015-2, the IRS provides a schedule of prevailing state assumed interest rates for certain insurance products issued in calendar years 2014 and 2015.  These rates are used by insurance companies in computing their reserves for (1) life insurance and supplementary total and permanent disability benefits, (2) individual annuities and pure endowments, and (3) group annuities and pure endowments.