Latest Loss Over Captives for IRS as it Formally Ends Egg Farm Case by Captive International
Puglisi Egg Farms formed a captive insurance company through Oxford Risk Management Group so they could cover risks such as avian influenza, for which commercial insurance was unavailable. This lead to an investigation by the IRS and subsequent penalties. However, in October of 2021, the IRS has conceded in its case against the Delaware egg farm.
Find out what this means for all taxpayers below: