Despite IRS Scrutiny, Micro-Captives Growing Like Weeds in Hard Florida Market December 4, 2024 By William Rabb Despite continued uncertainty over the future of federal tax rules on micro-captive insurance companies, the instruments seem to be increasingly...
Viewpoint: Is IRS Abusing its Authority in Micro-Captives Investigations? March 27, 2024 Editor’s note: Captive insurance programs have blossomed in a number of Southern states in recent years, including Tennessee and North...
NCOIL Writes IRS, FTC on Rules it Says Infringe State Regulation July 3, 2023 By Chad Hemenway The National Council of Insurance Legislators last week urged the Internal Revenue Service and the Federal Trade Commission to reconsider...
Supreme Court Backs Challenge to IRS Micro-Captive Reporting Rule May 17, 2021 By Andrew G. Simpson The U.S. Supreme Court has allowed a challenge to an Internal Revenue Services (IRS) requirement for firms to report micro-captive...
IRS Urges Participants in ‘Abusive’ Micro-Captives to Get Out Now April 9, 2021 By Andrew G. Simpson Internal Revenue Service officials are again urging participants in “abusive” micro-captive insurance arrangements to exit these transactions as soon as...
IRS Takes Aim at ‘Abusive Micro-Captive Practices’ with Another Settlement Offer October 23, 2020 As the pandemic and rising insurance costs fuel greater interest by large firms in creating captive insurance organizations, the Internal...
IRS Makes Settlement Offer to Taxpayers Involved in ‘Dirty’ Micro-Captive Insurance September 16, 2019 The Internal Revenue Service said it is mailing a time-limited settlement offer for certain taxpayers under audit who participated in...