Micro-captive Insurance Companies Beware
Currently, there is a tax provision that allows ‘micro-captive’ insurance companies – created to provide insurance to small companies that create them – to earn […]
Captive Insurance Risk Alert
Tax practitioners should be cognizant of the Internal Revenue Service (“IRS”) increasing and focused activity related to micro-captive insurance companies (hereinafter referred to as Captive […]
IRS Audits Micro-Captives
IRS Audits Micro-Captives Shortly after the Internal Revenue Service once again warned taxpayers to steer clear of unscrupulous promoters selling abusive micro-captives. It is part […]
Micro-captive Insurance Schemes
IRS expands enforcement focus on abusive micro-captive insurance schemes. WASHINGTON — With the October 15 filing deadline quickly approaching, the Internal Revenue Service today encouraged taxpayers […]
IRS Gathers Information on Taxpayers
Since the time when micro-captive insurance companies were placed on the IRS Dirty Dozen list of tax scams, it has also been identified as a […]
CIC Services LLC v. IRS
micro-captive transactions, A lawsuit arguing that taxpayers are permitted to challenge a Treasury Department reporting requirement without first violating it defies a measure Congress took […]
Taxpayers engaged in Micro-Captive Insurance Arrangements
Taxpayers engaged in micro-captive insurance arrangements (and re-insurance arrangements) have started receiving correspondence directly from the Large Business and International (LB&I) division of the IRS. […]
U.S. Department Of Justice Files Suit
The U.S. Department Of Justice Files Suit To Enforce An IRS Summons Against The Delaware Department Of Insurance For Artex Transactions tax shelters. tax shelters. […]
Micro-Captive and the IRS
The IRS correspondence received by taxpayers has caused confusion as to how to respond and whether a taxpayer’s micro-captive insurance arrangement will be respected. Taxpayers […]
Captive Insurance Plans Will Be Audited
Captive Insurance Plans.CIC Services has suggested that the Internal Revenue Service’s (IRS) “scare tactics” have left businesses unprepared amid the current COVID-19 pandemic. The captive […]
Update to Previous IRS Announcements
On April 22, 2020, in a statement made by email to a tax reporter, the IRS announced an extension of the due date to respond […]
IRS extends deadline for micro-captive filing positions
The Internal Revenue Service (IRS) has extended the deadline for the micro-captive insurance filing positions from 4 May to 4 June 2020 due to the […]
Taxpayers that have operated micro-captive insurance
The IRS announced today that it plans to begin auditing several thousand more taxpayers that have operated section 831(b) or micro-captive insurance companies in the […]
IRS Settles micro-captive insurance audits
micro-captive insurance audits Anyone who has received an IRS offer to settle a micro-captive insurance audit should immediately consult an experienced tax lawyer to understand […]
“Group Captives” Insurance Scam
Just a few years ago, captive insurance companies were a hot news item in the arcane world of abusive tax shelters.. Group Captives If you […]
Micro Captive Insurance audit deal from IRS
The IRS is offering a settlement to up to 200 taxpayers currently under audit for abusive micro-captive insurance transactions following three court wins backing the government’s position.
IRS is cracking down on micro-captives
According to the IRS, nearly 80% of taxpayers who received a time-limited settlement offer elected to accept the settlement terms.
Testimonials – Lance Wallach
Testimonials – Lance Wallach Few of many testimonials for Lance Wallach Lance Wallach, Thank you very much for providing me with this information. I will review […]
Understanding The IRS Settlement Initiative Offer For Targeted Captive Insurance Companies
The so-called tax shelter captive insurance companies are under scrutiny by the IRS. This happens when the promoter dummies up the insurance policies and the risks, in […]
Micro-Captive Audits
Key Issues for Micro-Captive Audits Micro-Captive Audits Micro-Captive Audits Shortly after the Internal Revenue Service again warned taxpayers to steer clear of unscrupulous promoters who sell […]
Help! My Captive Insurance Company is Under IRS Audit
After many discussions with IRS Representatives, we’ve come to learn that the IRS is opening up captive insurances for audits. Captive Insurance Company If you […]
Captive Insurance and the IRS
The IRS continues to heavily scrutinize captive insurance arrangements. Certain captive insurance types have consistently appeared on the IRS Dirty Dozen list. Micro-captives in particular […]
IRS Audits Captive Insurance Again
The IRS has now obtained victories in cases involving both forms of small captives
Captive Insurance Audit Settlements
The Internal Revenue Service announced that the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. […]
abusive micro-captive transactions
For the third consecutive year, the IRS places abusive micro-captive insurance tax shelters on its list of “Dirty Dozen” tax scams.
Abusive tax shelters, trusts and conservation easements
The IRS today warned taxpayers to steer clear of abusive tax avoidance schemes
IRS Audits Focus on Captive Insurance Plans
IRS Attacks Business Owners in 419, 412, Section 79 and Captive Insurance Plans Under Section 6707A