CIC Services’s own Randy Sadler and Chris Gallo cover the war in Ukraine, high gas prices, impending global starvation, current global hot spots and make the case for small and middle-market businesses to consider owning their own insurance company. Watch the recording from our recent webinar:
In a recent ruling, the U.S. District Court for the Eastern District of Tennessee reversed its prior decision requiring the IRS to return all documents illegally collected by the IRS under Notice 2016-66. Instead, the IRS was ordered to return only documents that it illegally collected from our firm, CIC Services.
The business landscape has drastically changed in the past two years, as the pandemic fast-tracked technological advances. According to a McKinsey Global Survey, companies have accelerated the share of digital or digitally enabled products in their portfolios by a whopping seven years since Covid-19 became a global phenomenon. They are leveraging emerging technologies in areas […]
The bureaucratic, administrative state has grown relatively unchecked for over 150 years, and in recent years it has gone parabolic. This has been particularly evident with the IRS, and the agency has illegally abused power and abused honest business owners and taxpayers at an alarming rate.
Following up on its 2021 Supreme Court victory over the IRS, CIC Services has won another, and this time it benefits all taxpayers and their material advisors. On March 21, 2022, Judge Travis McDonough of the United States District Court Eastern District of Tennessee issued an important ruling vacating IRS Notice 2016-66 (the “Notice”) […]
2020 and 2021 were strenuous years for many small and middle-market businesses, and many had their doors closed forever.
Advice From a Successful Female Business Owner: “Don’t Wait Until You are at the Top of Your Game to Get Covered”
A recent study revealed that 75% of businesses in the US are 40% underinsured, and worse, another study suggests that 40% of small business aren’t insured at all. In this article on Wecanmag.com, Shoshanna Simmons explains the benefits of having a captive and gives actionable steps to take in order to make sure your business […]
The following is informational only and does not constitute advice. Please forward this information to your independent tax advisor for specific recommendations or advice regarding your captive insurance structure. Over the last week or so, the IRS appears to have sent a standard form letter to many participants in captive insurance transactions covered by IRS […]
In a pending case before the US Tax Court that involved a Section 831(b)-electing client of Oxford Risk Management Group, the IRS has conceded all captive insurance-related taxes and penalties that it had previously assessed against the client. “The IRS conceded everything before the taxpayer could win a ruling against the Service on the […]
Today, we are officially beginning our 60 Day Countdown for the formation of a captive insurance company in 2021. The good news is there is still time to form a captive insurance company in 2021. But…the clock is ticking. 2020 clearly demonstrated that small and middle-market companies need more insurance AND more money, and captive […]