News

Accounting & tax analysis

Captives set to attract increased tax scrutiny: Deloitte

UK-based captive owners should be prepared to face increased tax authority scrutiny over the coming years, according to a note by Deloitte.   8 February 2021

Accounting & tax analysis

Tracking and analysing loss development for captives

There is a considerable amount of confusion about loss development factors and how they work. Enoch Starnes and Michelle Bradley of SIGMA Actuarial Consulting demystify loss development and explain why this knowledge is crucial for employees and board members of captives.   12 January 2021

Accounting & tax analysis

ABA to host webinar to demystify IRS’ micro captive campaign

The American Bar Association (ABA) will host a webinar to educate people about the Internal Revenue Service’s (IRS) policies regarding micro captives.   6 January 2021

Accounting & tax analysis

IRS considering offering further guidance regarding its position on micro captives

The Internal Revenue Service (IRS) has admitted it is considering whether additional guidance or regulations should be published to clarify its position regarding micro captives and the use of the 831(b) election.   5 January 2021

Accounting & tax analysis

Captive MGU International Re unveils capacity partnership with Cimarron

The partnership will underwrite a range of admitted property and casualty lines of business.   22 December 2020

Accounting & tax analysis

The captives year in review

To state the obvious, 2020 has been like no other year. However, the captive insurance world has not only survived, it has thrived under a myriad of strange circumstances, says Gary Osborne of Risk Partners.   21 December 2020

Accounting & tax analysis

Bauknight Pietras & Stormer promotes David Ward to partner

Bauknight Pietras & Stormer (BPS) has promoted David Ward to the role of partner.   17 December 2020

Accounting & tax analysis

Supreme Court of New Jersey upholds $56m tax refund for Johnson & Johnson

The Supreme Court of New Jersey has upheld a decision to refund $56 million in insurance premium tax (IPT) to Johnson & Johnson (J&J), related to coverage written by its captive, Middlesex Assurance.   8 December 2020

Accounting & tax analysis

CIC bullish following Supreme Court hearing in IRS case

CIC Services is feeling confident after giving evidence before the US Supreme Court on December 1 in a lawsuit that asks the federal courts to proclaim Internal Revenue Service (IRS) Notice 2016-66 illegal and to forbid its enforcement.   2 December 2020

Accounting & tax analysis

IRS to make a second settlement offer to selected microcaptive owners

The Internal Revenue Service (IRS) has made  a second time-limited settlement offer to certain taxpayers under audit who it believes participated in abusive microcaptive insurance transactions.   23 October 2020

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