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The Counsel of the Internal Revenue Service (IRS) faced tough questions at the oral arguments in front of the Supreme Court Justices in its case against CIC Services over Notice 2016-66.
The new time-limited settlement offers will be sent out by the IRS in the coming days with terms that are “stricter” than the first time-limited initiative that started in September last year
The appeal challenges the US tax court’s rulings in the Reserve Mechanical captive insurance case
The IRS said taxpayers should not assume it will able to settle any transactions with the IRS or chief counsel on terms more favourable than the previously announced settlement offers
The US Court of Appeals for the Ninth Circuit has upheld a district court’s order compelling individual arbitration and dismissing a putative class action alleging violations of the Racketeer Influenced and Corrupt Organizations Act and Arizona law
The IRS has urged the US Supreme Court to affirm the Sixth Circuit's rejection of CIC Services challenge to agency reporting requirements, stating that the lower court correctly found the suit is barred by the Anti-Injunction Act
Cassie Bachman has joined Arsenal Insurance Management as director of legal affairs
The US Senator for Colorado Cory Gardner has called for the Internal Revenue Service, to suspend its review of tax benefits claimed by micro captives until resolution of the current litigation in the US Court of Appeals for the Tenth Circuit
Matthew Reddington, partner at ZMFF&J Law, sheds light on the first victory of a micro-captive against the IRS in court, after the federal agency failed to show that the captive management firm RMC Group was liable for Section 6700 penalties
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
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
