Micro captives were not listed on the Internal Revenue Service’s 2020 ‘Dirty Dozen’ list of tax scams, for the first time in five years
The US Supreme Court has agreed to hear CIC Services’ case against the Internal Revenue Services regarding IRS Notice 2016-66
CIC Services has suggested that the Internal Revenue Service’s “scare tactics” have left businesses unprepared amid the current COVID-19 pandemic
According to Feldman, businesses with captive insurance “stand in a better financial position to weather the current storm posed by the pandemic and the resulting shutdown of businesses”
The Internal Revenue Service has revealed that 80 percent of taxpayers who received offer letters elected to accept the settlement terms
CIC Services has petitioned the Supreme Court of the US to hear its lawsuit against the Internal Revenue Service regarding IRS Notice 2016-66
IRS will be mailing a time-limited settlement offer for certain taxpayers under audit who participated in ‘abusive’ micro-captive insurance transactions
CIC Services’ petition for an en banc review of its challenge against the IRS Notice 2016-66 has been denied by the US Court of Appeals for the Sixth Circuit
Insurance tax professionals discuss the current tax and regulatory landscape of the captive industry, including the OECD’s BEPS plan and IRS scrutiny of micro captives
Industry experts discuss why companies are choosing to redomesticate their captives and the opportunities it provides them
Phil Karter, Scot Kirkpatrick and Patrick McCann of Chamberlain Hrdlicka discuss the IRS’ letter, which raises more questions about captive audits in an already certain time
Ryan Work of SIIA discusses the IRS’ ‘ill-timed’ letter to captive insurance companies and the future of business risk as many US states started to institute stay at home orders
Sean King of CIC Services discusses the firm’s upcoming case against the IRS in the Supreme Court, what a win would mean for the industry, and the support they are receiving from the captive insurance industry throughout this legal process
Jeremy Colombik of MSI and NCCIA chair explains to Becky Butcher that Notice 2016-66 could be detrimental to not just North Carolina, but other domiciles that are home to smaller captives
The IRS has increased its scrutiny of captives, but those that follow the rules have nothing to worry about, as John Dies of alliantgroup tells Becky Butcher
As the sun sets on his tenure as CICA president, Dennis Harwick explains why this adolescent industry is wiser than its years
