It’s been said that a dog returns to its vomit, and this is certainly true of the IRS and its 2016 “dirty dozen” publication, which once again includes “abusive” varieties of captive insurance companies on its list of scams.  We don’t joyfully look for opportunities to cross swords with the IRS.  However, when the Service’s […]

[The below is a parody designed to make an important point.  It is NOT intended to reflect on the character or motives of any actual managers of protected cell, segregated cell or incorporated cell captive insurance companies.  Rather, it is designed to emphasize that, in some cell captive structures, the interests of the captive manager

I was watching basketball this weekend and was rather amused by the antics of the home team’s crowd, whenever the visiting team was shooting free throws.  The home team’s student section and cheerleaders were behind the basket, screaming wildly and waving foam noodles behind the see-through plexi-glass backboard.  Despite all the racket, most opposing players […]

We interrupt our regularly scheduled programming for this Obscene Captive Domicile Growth Report.  Despite the IRS putting captive insurance companies (CICs) on its “dirty dozen” list for 2015 (CLICK HERE to read about captives and the “dirty dozen”), the captive industry continues to grow, largely fueled by up-and-coming domiciles in the United States.  Here are […]

Over the last few weeks, we have addressed the “Tax Extenders” bill titled H.R. 34.  As noted, this new legislation included Section 262 titled, “MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES.”  These modifications impact small captive insurance companies (CICs) that make an 831(b) tax election (CLICK HERE to read about H.R. 34 and […]