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”) on two grounds. First, he ruled that Notice was issued in contravention of the Administrative Procedures Act—that is, without first engaging in Notice and Comment rulemaking as required by law.
2020 and 2021 were strenuous years for many small and middle-market businesses, and many had their doors closed forever.
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 is covered by the correct insurance before a crisis strikes.