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 American Bankers Association has written a letter to the Federal Housing Finance Agency requesting for them to overturn its decision on banning captive insurance companies from its membership
The American Bankers Association has written a letter to the Federal Housing Finance Agency requesting them to overturn its decision on banning captive insurance companies from its membership
SIIA has written a letter in response to Executive Order 13924, asking for the treasury and office of management and budget to direct the IRS to more appropriately define captive guidance while more efficiently and cost-effectively collecting the app
The Self-Insurance Institute of America advocated for the Pandemic Risk Insurance Act of 2020 (PRIA) to include captive insurance participation in its early stages, according to Ryan Work, vice president of government relations for SIIA
The IRS “made no friends” in the industry or congress by sending letters taxpayers seeking information about their participation in micro-captive insurance transactions after the US declared a national emergency, according to Sean King of CIC Service
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”
Despite parts of the captive industry being maligned by the IRS, Ryan Work, vice president of government relations for the Self-Insurance Institute of America, argued that captives are now playing a critical role to help businesses survive the COVID-
