The Internal Revenue Service is proposing to restrict access to micro-captive insurance as a way to crack down on tax fraud, but at a time when some traditional insurance providers are backing away ...

Native American tribes and small businesses alike are counting on Congress to step in. In September of this year, the Senate Finance Committee held a hearing to consider Marjorie Rollinson's ...

The IRS is cracking down on the use of so-called micro-captive insurance—a way for companies to insure themselves—as tax shelters, as it bolsters enforcement efforts aimed at wealthy individuals and ...

The Internal Revenue Service issued a notice Friday giving some breathing room to participants and advisors involved with micro-captive insurance companies. However, the micro-captive insurance ...

The Internal Revenue Service and the Treasury Department proposed regulations to identify micro-captive transactions as abusive tax transactions after the Supreme Court ruled against the IRS in a case ...

The 831(b) Institute, a group that advocates for micro-captive insurance providers, sent a letter to the Internal Revenue Service requesting an extension on a deadline for disclosing information about ...

Certain micro-captive transactions are back to being reportable. On January 14, 2025, the Treasury Department and the Internal Revenue Service (“IRS”) published final regulations (the “Regulations”) ...

The National Council of Insurance Legislators is not happy with a proposed federal regulation to crack down on micro-captive insurance companies. The proposed regulation, put forth by the Treasury ...

The District Court for the Eastern District of Tennessee has vacated IRS Notice 2016-66, which designated micro-captive insurance arrangements as “transactions of interest,” and thus reportable ...

With the Oct. 15th filing deadline quickly approaching, the Internal Revenue Service today encouraged taxpayers to consult an independent tax advisor if they participated in a micro-captive insurance ...