Sheryl Flum
Managing Director, Financial Services Tax
Sheryl Flum is a managing director in the Financial Services Tax group, focusing on Subchapter L of the Internal Revenue Code (Insurance Company Taxation) and taxation considerations regarding products offered by insurance companies.
Sheryl previously served as the Chief of the Insurance Branch within the Financial Institutions and Products office of the Office of Chief Counsel of the Internal Revenue Service. As the Branch Chief, Sheryl was responsible for tax law implementation, tax law interpretation, and focusing on new and emerging issues in insurance tax.
Sheryl is experienced with providing IRS guidance on issues that have a broad impact on insurance company taxpayers or on those who purchase insurance products. She also has experience with IRS examination audits of insurance companies, private letter rulings on the federal tax treatment of proposed transactions and new insurance products, closing agreements between life insurance companies and the IRS, and change in method of accounting requests related to Subchapter L issues.
Sheryl is experienced with the requirements for determining reserves for life insurance products under Section 807 of Subchapter L. Additionally, Sheryl is knowledgeable about determining non-life insurance company taxable income under Section 832 of Subchapter L.
Sheryl is a frequent public speaker on insurance tax matters at many insurance tax related programs including programs sponsored by American Bar Association, Federal Bar Association, Insurance Tax Conference and Society of Actuaries.
She is a member of the Maryland Bar Association.