Articles
Accounting & tax analysis
Global average commercial insurance prices increased 14 percent in Q1 2020, according to the Global Insurance Market Index, released by Marsh. 12 May 2020
Accounting & tax analysis
The Vermont Captive Insurance Association (VCIA) has written to Steve Mnuchin, the US Secretary of the Treasury, and Paul Rettig, the Commissioner for Internal Revenue, calling on the Internal Revenue Service (IRS) to suspend its audit activities of micro captives. 30 April 2020
Accounting & tax analysis
The captive industry has been cowed by the IRS for years, with the tax collector securing a string of legal victories that left businesses wondering whether having a captive was worth the effort. However, the COVID-19 pandemic has shattered the logic on which those cases were won, and will lead to a resurgence among 831(b)s, predicts Matthew Queen. 28 April 2020
Accounting & tax analysis
The Internal Revenue Service has extended the due date to respond to its letters of inquiry to certain micro-captive insurance participants. 27 April 2020
Accounting & tax analysis
The IRS’ targeting of captive insurance companies has left companies more vulnerable to the economic ravages of COVID-19, according to CIC Services. 23 April 2020
Accounting & tax analysis
The State of Connecticut Insurance Department (SCID) will help accounting firms in the state to expand their presence in the captive insurance market. 22 April 2020
Accounting & tax analysis
Owners of 831(b) tax-elected captives, and their advisors, have watched with alarm as the 30-year old 831(b) tax election has come under mounting scrutiny. These concerns flared up again with the recent circulation of intimidating letters from the IRS. Owners of 831(b)s have a decision to make about whether they persist with their current arrangements, says Captive Alternative’s Emilie Gastley. 27 March 2020
Accounting & tax analysis
The IRS is spreading fear, uncertainty and doubt about the captive industry in an effort to increase its own revenues, according to Sean King, principal of CIC Services. 25 March 2020
Accounting & tax analysis
The American Institute of Certified Public Accountants has issued Statement on Auditing Standards (SAS) 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements. Lauren Williams of Johnson Lambert explains what it means for you. 18 March 2020
Accounting & tax analysis
Participants in high deductible health plans (HDHPs) will maintain eligibility to health savings accounts (HSA) even if testing or treatment for coronavirus is provided before their deductible is met. 16 March 2020
Not finding what you're looking for, please try resetting your applied search and filters,
or try the full site search.
Editor's picks
