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Captive premium growth for cyber risk up 263%

North America11-06-2019

Captive premium growth for cyber risk has accelerated by 263 percent in the past year, according to Aon.

IRS intended to use undercover tapes in Artex microcaptive case

North America03-06-2019Owen Faulkner

The Internal Revenue Service (IRS) had planned to use tape recordings of an undercover agent looking to form an 831(b) captive with Tribeca Strategic Advisors - now part of Artex Risk Solutions - in order to support its argument that a captive in a recent lawsuit lacked economic substance.

IRS launches captive campaign to ensure compliance with arm's length prices


The Internal Revenue Service (IRS) has launched a compliance campaign to ensure US multinational companies are paying their captive service providers no more than arm's length prices.

US Tax Court rules in favour of IRS in 831(b) Syzygy case

North America11-04-2019Owen Faulkner

Just like Reserve Mechanical and Avrahami before it, the US Tax Court has ruled in favour of the IRS in the case of Syzygy Insurance v Commissioner, ultimately determining the captive did not constitute insurance in the commonly accepted sense and its 831(b) election was invalid.

Macy’s Vermont captive facing $23.8m in penalties in Maryland tax dispute

North America29-03-2019

Leadville Insurance Company, the Vermont-based captive insurance subsidiary of US department store chain Macy’s, may be liable for $23.8 million in unpaid corporate income taxes to the state of Maryland, a recent court opinion has shown.

IRS adds microcaptives to Dirty Dozen list

United States22-03-2019Insurance

The US Internal Revenue Service (IRS) has added microcaptives to its Dirty Dozen list of common scams that it claims that US taxpayers may encounter.

Moore Stephens unit to operate under BDO brand through merger


Accountancy and business advisory firms BDO and Moore Stephens have completed a merger agreement where Moore Stephens LLP - with offices in London, Birmingham, Bristol, reading ant Watford - will operate under the BDO brand.

Mazars elects Clouse to executive committee

North America04-02-2019

Accounting, tax and consulting firm Mazars has appointed Brian Clouse to its executive committee.

CICA publishes risk pool guidance following Avrahami and Reserve Mechanical

North America04-02-2019

The Captive Insurance Companies Association (CICA) has published new guidance to provide guidance on the use of risk pools following prolific US Tax Court cases involving.

Shivkov v Artex 831(b) “conspiracy” extends beyond named participants: LFDS lawyer

North America28-01-2019

One of the lead lawyers involved in the Arizona-based lawsuit Shivkov v Artex Risk Solutions has said that he believes the alleged conspiracy extends beyond the named defendants in the case.

Showing 41 to 50 of 155 results

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