The US Tax Court has backed the Internal Revenue Service’s decision to deny Benyamin and Orna Avrahami access to the Internal Revenue Code Section 831(b) election for certain financial years
Notice 2016-66 is a notable absence from the US Treasury’s Donald Trump-ordered review of tax regulations, despite the Self-Insurance Institute of America (SIIA) asking for its inclusion
The Self-Insurance Institute of America (SIIA) has asked the US Treasury to include Notice 2016-66 in the President Donald Trump-ordered review of US tax rules
The US District Court of Eastern District of Tennessee has dealt a blow to micro captives and their managers in the run-up to the 1 May deadline to comply with Notice 2016-66
The NCCIA has filed a third-party observation in support of a lawsuit in federal court seeking a temporary injunction to stop the IRS from implementing Notice 2106-66
Captive manager CIC Services has lodged a second lawsuit against the Internal Revenue Service (IRS) and US Treasury in a bid to block Notice 2016-66
The IRS’s Notice 2016-66 is having negative effects on the reputation of the captive insurance industry, according to Skip Myers and Jim McIntyre
Captive insurance professionals launched a staunch defence of 831(b) insurers at the CICA International Conference in light of the US Internal Revenue Service’s renewed interest in them
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
