We provide here a written summary of answers provided by the Department of Revenue to the committee at periodic question and answer sessions. These documents are classified as Revenue information issued for informational purposes only for the convenience of PICPA members. Pursuant to 61 Pa. Code Section 3.4, these documents should not be relied upon for any purpose or used in tax appeals. Taxpayers requiring a binding opinion on a specific fact situation may request a written letter ruling under 61 Pa. Code Section 3.3.
Q&A with the Pennsylvania Department of Revenue
Can insolvent insurance companies participate in amnesty, similar to bankrupt entities?
Yes. An insurer that is under supervision, is currently in liquidation, or is under rehabilitation may be able to participate in the Amnesty Program. For insurers under supervision, they will need the prior written approval of the Insurance Department or the appointed supervisor. For insurers in liquidation or rehabilitation, including those under a Federal or state receivership, the liquidator, rehabilitator, or receiver acts in place of the insurer and so is responsible for participating in Amnesty on behalf of the insurer.