The state of Delaware is going to the Supreme Court in its fight with the Internal Revenue Service (IRS) over the release of information on captive insurers. This fight has placed Delaware’s state regulation of insurance and its authority to …
The U.S. Supreme Court has allowed a challenge to an Internal Revenue Services (IRS) requirement for firms to report micro-captive insurance arrangements to proceed. The IRS authority to require the captive reporting is being challenged as invalid by a Tennessee …
Internal Revenue Service officials are again urging participants in “abusive” micro-captive insurance arrangements to exit these transactions as soon as possible. The IRS considers that many micro-captive arrangements are not really about insurance. The IRS has stepped up examinations of …
As the pandemic and rising insurance costs fuel greater interest by large firms in creating captive insurance organizations, the Internal Revenue Service continues to question small captive operations that it has long argued are tax avoidance vehicles and not valid …
The Internal Revenue Service said it is mailing a time-limited settlement offer for certain taxpayers under audit who participated in what the IRS calls “abusive micro-captive insurance” transactions. The IRS has been warning about these micro-captives for several years and …
