The IRS and Captives: A Short History
- Topics:
- Insurance
- Tags:
- Business Operations,
- Corporate Insurance,
- Finance,
- Financial Planning,
- Free Trade,
- Insurance,
- Internal Revenue Service,
- Phone Number,
- Taxes
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Overview: Probably the most important lesson to be learned from nearly a quarter century of IRS challenges to captives is to never erase the tax attorney's phone number from the speed dial. While it seems as though the taxpayer has won a few battles over this period, tax laws, revenue rulings, and court cases will continue to change how the IRS looks at insurance and captives. The IRS will continue to pursue captives it deems improper, how it will do so remains uncertain according to this article.
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