alternative tax liability News

IRS Names Microcaptives as Top Abusive Tax Scheme

The IRS is growing increasingly uncomfortable that an increasing number of smaller companies and professional firms have been doing what larger companies do — creating their own or joining a captive insurer. The IRS believes some of these smaller companies …

Bill Would Give Tax Relief to Small, Rural P/C Insurers

About 600 small mutual property/casualty insurers serving rural communities would get a tax break under federal legislation filed last week in Congress. Introduced by Reps. Erik Paulsen, R-Minn., Ron Kind, D- Wis., and Aaron Schock, R-Ill., the legislation would update …