6 January 2021Accounting & 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.

Titled  A Practitioner's Guide to the IRS Micro-Captive Insurance Campaign, the webinar will take place on January 26, 2021, at 1pm EST. It will include panelists that are involved with the IRS compliance programme, as well as private practice practitioners representing taxpayers in various stages of Federal tax controversy involving micro-captives.

The panelists will explain why micro-captives became a reportable transaction and how the IRS is aggressively investigating the use of abusive micro-captives. The ABA promised registrants will gain a better understanding of the types of micro-captive transactions that will draw IRS scrutiny and steps that can be taken to remedy defective programmes.