Over the last few years, captive insurance has become the tax shelter du jour for accountants and wealth planners looking to find ways to help their small business owner clients reduce their tax ...

In 2016, the Department of Treasury and IRS issued Notice 2016-66 (PDF), which identified certain micro-captive transactions as having the potential for tax avoidance and evasion.

IRS pushes back penalties on micro-captive transactions By Michael Cohn April 11, 2025, 4:24 p.m. EDT 3 Min Read ...

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 ...

In 2016, the Department of Treasury and IRS issued Notice 2016-66, which identified certain micro-captive transactions as having the potential for tax avoidance and evasion.

The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions. The IRS said Thursday it will ...

Unfortunately, the IRS has taken a negative view of micro-captive insurance, ensnaring thousands of hard-working small business owners in an audit dragnet over the last several years.

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 ...

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 ...

In that case, the Sixth Circuit held that another IRS Notice— Notice 2007-83 — was invalid because the IRS failed to comply with the notice-and-comment procedures of the APA.

June 30, 2015 Special Focus: What The Insurance Industry Should Know About The IRS’s Campaign Against “Abusive” Micro Captives Carlton Fields + Follow Contact LinkedIn ...

On January 31, 2020, the IRS issued a news release that warns taxpayers that it has created 12 new examination teams to audit abusive micro-captive insurance transactions.