SIIA Seeks Treasury Department Review of IRS 831(b) Captive Activities

June 19, 2020

In a letter to US Treasury Secretary Steven Mnuchin and Russel Vought, acting director of the Office of Management and Budget, the Self-Insurance Institute of America (SIIA) has asked the Treasury Department to review activities of the Internal Revenue Service (IRS) related to 831(b) captive insurance companies. Read More

North Carolina Captive Group Seeks Relief from IRS Micro-Captive Letter

May 7, 2020

The North Carolina Captive Insurance Association (NCCIA) is one of a number of state captive insurance associations protesting recent Internal Revenue Service (IRS) activities aimed at micro-captives. The NCCIA wrote North Carolina's congressional delegation for help in securing relief from a letter the IRS sent in March to micro-captive owners. Read More

Quiet Settlement in 831(b) Captive Insurance Tax Case

March 19, 2020

Wilson v. Comm'r, Docket 26547-13 (Tax Court) was quietly settled at the end of February. The case had been in the Tax Court for some time, and after Avrahami was decided, supplemental briefs were requested by the court. The facts of the case are very similar to Avrahami. Read More

Captive Insurance Groups File Brief Supporting Reserve Tax Case Appeal

March 6, 2020

A group of captive insurance associations filed a friend of the court brief supporting Reserve Mechanical Corp.'s appeal of a US Tax Court insurance tax case. The group expressed concern about areas of the Tax Court's ruling concerning prior loss history, standardized versus manuscripted policies, and risk pooling. Read More

Reserve Files Opening Appeals Brief in Captive Insurance Tax Case

March 2, 2020

Reserve Mechanical Corp.'s first appeals brief outlines ways it says the US Tax Court erred in ruling against it in a captive insurance tax case, arguing that the captive insurance arrangement met necessary criteria for insurance. Read More