_______________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.

Question

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Policy-related reserves are referred to as maximum tax actuarial reserves (MTAR) for income tax purposes, replacing actuarial liabilities used for accounting in computing taxable income.

_______________ Reserves for Income Tax Purposes Are Referred to as Maximum