IRS petitions court in a bid to obtain confidential information from DDOI

23-06-2020

IRS petitions court in a bid to obtain confidential information from DDOI

The Internal Revenue Service (IRS) has petitioned the US District Court for the District of Delaware to enforce a summons for documents held by the Delaware Department of Insurance (DDOI) related to the IRS’ microcaptive investigation. 

The IRS said it had requested “testimony and certain records relating to filings by and/or communications with Artex Risk Solutions and Tribeca Strategic Advisors, or others working with Artex and/or Tribecca,” from DDOI. 

Christina Haas, senior policy advisor at the DDOI, said it had complied with the IRS’ requests as far as it was able,having provided all the nonconfidential information that had been requested. The DDOI has even worked with the industry to provide additional confidential information with their consent, she said. 

“However, confidentiality confines do exist in our state law, and the Department continues to feel strongly these confidentiality provisions are critical to both the state-regulated industry, and to public policy as a whole,” Haas added. 

The IRS filing said it is looking at whether Artex or Tribeca have promoted microcaptive insurance schemes that could be classed as abusive tax shelters or abusive tax avoidance schemes.” 

 

Internal revenue Service, IRS, Delaware Department of Insurance, DDOI, Christina Haas, Artex, Tribecca

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