April 2015

It is no secret that the IRS is no fan of captive insurance companies, whether they are owned by large corporations or small businesses.  Over the last few years, two things have become increasingly clear.

One, the IRS continues to lose in U.S. Tax Court in its attacks on captive insurance companies.  In 2014, the Service was dealt stinging defeats in both the Rent-A-Center and Securitas cases.

Two, the IRS has embarked on a public relations

The Ides of April are upon us, and business owners across the Fruited Plain are mailing checks to the IRS.  On the one hand, a business owner may write a large check to the IRS and think, “it’s a good thing to send the IRS a huge check, because it means we made money.”  On the other hand, mailing large checks to the IRS can leave businesses hollowed out

We were having a discussion on how best to explain to remarkable benefits of enterprise risk management with a captive insurance company, when Tom King, Principal and Founder of CIC Services proclaimed, “This really is the best self-insurance money can buy!”

Tom was referring to the chart below that visually depicts