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The U.S. Treasury Department and IRS have issued proposed regulations to identify certain micro-captive transactions as "listed transactions" and "transactions of interest"
A ruling by the US District Court for the Eastern District of Tennessee has ordered for the Internal Revenue Service to set aside Notice 2016-66 in its abiding suit against captive manager CIC Services
A federal judge has issued a ruling temporarily forbidding the Internal Revenue Service from enforcing Notice 2016-66 against CIC Services, pending final resolution of the case
CIC Services has appointed Shoshanna Simmons to lead its client services division
The US Supreme Court ruling in the CIC Services case against the IRS has been described by Ryan Work, vice president, government relations at SIIA, as “an important victory” for the captive insurance industry
The US Supreme Court has ruled in favour of the CIC Services in their case against the Internal Revenue Service over Notice 2016-66, in a unanimous decision
The Internal Revenue Service has urged participants in ‘abusive micro captive insurance arrangements’ to exit these transactions as soon as possible
Christopher Gallo has joined CIC Services, a Knoxville-based risk management consulting firm as managing director
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
