This proposal follows the mention of micro-captives on its 2023 list.
In the verdict, the jury cleared RMC Group, owned by Raymond Ankner, from penalties under Internal Revenue Code Section 6700, which governs the promotion of abusive tax shelters.
His expertise includes guiding clients through Internal Revenue Service (IRS) audits, preparing administrative claims and protests, and litigating tax-related cases in various US courts.
Both agencies are investigating schemes where taxpayers engaged in transactions that were viewed as “exploiting the tax code for financial gain”
The Delaware Department of Insurance (DDOI) has filed an emergency application against the Internal Revenue Service (IRS) with the U.S. Supreme Court
The Oklahoma Insurance Department (OID) has submitted comment in reference to regulations proposed by the U.S. Treasury Department and the Internal Revenue Service (IRS)
Oxford Risk Management Group (Oxford) has submitted comment in reference to regulations proposed by the Treasury Department and Internal Revenue Service (IRS)
The IRS has proposed regulations that, if passed, could severely limit access to captive insurance programmes for small- and medium-sized businesses in the US
Scott Simmons, director of Verve Risk Services, and Michael Maglaras, president of Michael Maglaras & Company, shine a light on abuse in the captives industry through the use of 831(b) of the Internal Revenue Code and how firms can protect themselves
As a key emerging market tapped by captives, how does the cannabis industry address risk and insurance in the face of misconceptions and a challenging federal mandate in the US?
Anne Marie Towle, Adrien Collovray and Courtney Claflin provide an overview of the current captive market, challenges that have carried over into 2022, and what’s on the horizon
Ben Whitehouse of Butler Snow and Kevin Walters of the Tennessee Department of Commerce and Insurance discuss regulatory updates and the importance of having a symbiotic relationship between the regulator and captive companies
Scott Simmons, director of Verve Risk Services, discusses the key decisions and oversight duties of captive insurance boards to help minimise D&O exposure risks. He highlights proper governance, planning, due diligence and accountability measures as imperative for directors
Stephen Taylor talks to Frances Jones about his role and his ambitions for the Delaware captive programme
Kerr Russell’s Eric Lark explains that due to a number of factors group captives continue to flourish
Debbie Walker of NCDOI explains why ongoing regulation of licensed captive insurance companies is the domicile’s primary focus
Travis Wegkamp of Utah Insurance Department explains that the state is seeing larger companies move to the state with more robust risk management programmes, higher premium volume, and a long-term outlook for the use of their captive
Experts discuss the state of play throughout the world’s biggest captive market
Guernsey, the Isle of Man and Jersey are working harder than ever to promote themselves as the go-to jurisdiction and capitalise on new opportunities
Although Puerto Rico may be the new kid on the block, Ruben Gely of MCH Advisors reveals that it is gaining popularity
