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Home / Columns and Features / IRS cracking down on abuses of microcaptive insurance

IRS cracking down on abuses of microcaptive insurance

Forming a small insurance company known as a microcaptive can be a great way for small businesses to reduce insurance costs and realize tax savings. Abusive microcaptive arrangements, however, have attracted scrutiny from Congress and the IRS. Last month, the Tax Court decided an important microcaptive case, holding against the taxpayers and finding the captive invalid. While ...

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Forming a small insurance company known as a microcaptive can be a great way for small businesses to reduce insurance ...