Loading…
516-236-8440
USA

Fight the IRS and Sue the Promoter who sold you this CAPTIVE problem!

831b Micro-Captives are currently on the IRS Dirty Dozen List
Contact Us

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. The correspondence asks taxpayers to […]

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 On June 19, 2020, the Tax Division of the […]

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 still engaged in a micro-captive […]

Captive Insurance Plans Will Be Audited

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 management company explained that in light of […]

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 to its letters of inquiry […]

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 […]

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 coming months. The IRS has been aggressively pursing […]

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 coming months. The IRS has been aggressively pursing taxpayers […]

“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. Sleazy promoters were signing up small businesses in droves. […]

lance wallach

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.

lance wallach

Thank You

Mr. Wallach, Thank you very much for providing me with this information. I will review it next week and, I’m sure, be in touch. I very much appreciate your help” […]

william coulson

Micro-Captive Audits

Shortly after the Internal Revenue Service (IRS) again warned taxpayers to “steer clear” of unscrupulous promoters selling abusive micro-captives as part of its annual “Dirty Dozen” listing and the IRS […]

captive insurance audits

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 have been identified as potential […]

irs audits captives

Captive Insurance Audit Settlements

The Internal Revenue Service announced today the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Taxpayers eligible for this offer […]