Craig R. Springfield
Partner
Craig Springfield has been a partner with Davis & Harman LLP since 1998. His federal tax advisory practice focuses on the taxation of life insurance, annuities, long-term care insurance, accelerated death benefits, health insurance and other insurance products. Craig frequently represents insurance companies to obtain private letter rulings and other forms of guidance from the Internal Revenue Service and the Department of the Treasury. He also has extensive experience working with clients to obtain closing agreements that address various compliance issues, including under sections 7702 and 7702A of the Code and for failures to satisfy withholding and reporting obligations. Craig has worked on various legislative matters, e.g., the tax treatment of long-term care insurance combination products and the Medicaid rules governing qualified state long-term care insurance partnerships.
Craig frequently writes on insurance tax topics. He is coauthor of Life Insurance & Modified Endowments (2d ed., Society of Actuaries 2015) and Tax Management Portfolio No. 528, U.S. Income Tax Definition of Life Insurance and Annuity Contracts (Bloomberg 2018). Craig also coauthored the chapter on “Tax Reporting and Withholding Requirements for Annuities” in the Annuities Answer Book (5th ed. Wolters Kluwer 2017). Some of the articles Craig has authored or coauthored include: Rightsizing the Floor Interest Rate Rules of Sections 7702 and 7702A, Taxing Times (March 2021); Final Regulations Under Sections 101 and 6050Y, Taxing Times (Feb. 2020); Proposed Regulations on Reporting Requirements for Transfers for Value of Life Insurance Contracts, Taxing Times (Oct.2019); The Life Insurance Product Tax Provisions of H.R. 1, Taxing Times (June 2018); Product Tax Implications of the Adoption of the 2017 CSO Tables, Taxing Times (October 2016); They Go Bump in the Night: Life Insurance Policies and the Law of Material Change, Taxing Times Supplement (May, 2012); A Mystery Partially Unveiled: The IRS Rules on Section 7702A’s Necessary Premium Test, Taxing Times (Feb., 2012); The CLASS Act: What Does it Mean for Private Long-Term Care Insurance, Journal of Financial Service Professionals (Sept. 2010); New Closing Agreement Procedure for Failed Life Insurance Contracts – Rev. Proc. 2008-40, Taxing Times (Feb. 2009); Rev. Proc. 2008-39 – Correction of Inadvertent MECs: Is the Third Time the Charm? Taxing Times (Feb. 2009); New Rules and Opportunities for Long-Term Care Insurance Combination Products, Taxing Times (May 2007); Determining Guideline Premiums for Fixed-Premium Universal Life Insurance Contracts, Taxing Times (Dec. 2005); and The New Tax Rules Governing Long-Term Care Insurance, Journal of the American Society of CLU and ChFC (Sept. 1997, Nov. 1997 and Jan. 1998).
- Former Chair, ABA Section of Taxation, Insurance Companies Committee
- District of Columbia
