A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows:


	Year Ended December 31,
	2020		2019		2018
	(in millions)
Income tax (expense) benefit:
Current (expense) benefit	$	(112)	$	295	$	234
Deferred (expense) benefit	739		284		222
Total	$	627	$	579	$	456

The Federal income taxes attributable to consolidated operations are different from the amounts determined by multiplying the earnings before income taxes and noncontrolling interest by the expected Federal income tax rate of 21% . The sources of the difference and their tax effects are as follows:


	Year Ended December 31,
	2020		2019		2018
	(in millions)
Expected income tax (expense) benefit	$	291	$	517	$	309

Non-taxable investment income	91		73		104
Tax audit interest	(8)		(14)		(11)

Tax settlements/uncertain tax position release	231		—		12
Tax credits	21		—		—
Change in tax law	—		—		46
Other	1		3		(4)
Income tax (expense) benefit	$	627	$	579	$	456

During the fourth quarter of 2020, the Company agreed to the Internal Revenue Service’s Revenue Agent’s Report for its consolidated 2010 through 2013 Federal corporate income tax returns. The impact on the Company’s financial statements and unrecognized tax benefits was a tax benefit of $231 million.

In accordance with Staff Accounting Bulletin No. 118 (“SAB 118”), the Company recorded provisional estimates for the income tax effects of the TCJA in 2017 and refined those estimates in 2018. The impact of the TCJA primarily related to the revaluation of deferred tax assets and liabilities.


	December 31,
	2020				2019
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Compensation and related benefits	$	58	$	—	$	51	$	—
Net operating loss and credits	—		—		44		—
Reserves and reinsurance	1,483		—		945		—
DAC	—		606		—		692
Unrealized investment gains (losses)	—		1,668		—		639
Investments	1,071		—		640		—

Other	—		111		—		73
Total	$	2,612	$	2,385	$	1,680	$	1,404

A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:


	Year Ended December 31,
	2020		2019		2018
	(in millions)
Balance at January 1,	$	297	$	273	$	205
Additions for tax positions of prior years	229		24		98
Reductions for tax positions of prior years	(250)		—		(30)
Additions for tax positions of current year	—		—		—
Settlements with tax authorities	5		—		—
Balance at December 31,	$	281	$	297	$	273

Unrecognized tax benefits that, if recognized, would impact the effective rate	$	47	$	222	$	202

The Company recognizes accrued interest and penalties related to unrecognized tax benefits in tax expense. Interest and penalties included in the amounts of unrecognized tax benefits as of December 31, 2020 and 2019 were $34 million and $55 million, respectively. For 2020, 2019 and 2018, respectively, there were $(21) million, $14 million and $18 million in interest expense (benefit) related to unrecognized tax benefits.

It is reasonably possible that the total amount of unrecognized tax benefits will change within the next 12 months due to the conclusion of IRS proceedings and the addition of new issues for open tax years. The possible change in the amount of unrecognized tax benefits cannot be estimated at this time.

As of December 31, 2020, tax years 2014 and subsequent remain subject to examination by the IRS.