Taxation
Captive Insurance under Fire: Recent Court Cases and IRS Regulations Reshape the Industry
Recent court cases and Internal Revenue Service (IRS) regulations are increasing scrutiny on micro-captives, prompting the captive insurance industry to navigate evolving legal and regulatory challenges. Read More
Micro-Captive IRS Audit Guidance Indicates Withholding Tax To Be Imposed
Internal Revenue Service (IRS) audit guidance indicates withholding tax on micro-captive premiums, following the "Reserve Mechanical" ruling, which voided tax exemptions under IRC section 953(d) and 501(c)(15). Read More
Iowa Lowers Assumed Reinsurance Premium Tax Rates for Captive Insurers
Iowa lowers reinsurance tax rates for captives with HF 2636, offering competitive rates and enhancing the state's appeal for captive insurers. Read More
Micro-Captives Retain Their Spot on IRS 2024 Dirty Dozen List
The Internal Revenue Service (IRS) has released its 2024 Dirty Dozen list, and once again, micro-captive insurance arrangements are included on the list. Read More
Florida Commences Self-Procurement Tax Audits for Businesses with Captives
Florida audits businesses with captive insurance for self-procurement tax compliance, signaling stricter enforcement in the sector. Read More