Tuesday, April 28, 2015 – 12:00-1:00 PM CDT
CPE Credit Offered
On February 3, 2015, the IRS issued IR 2015-19, which officially added certain small captive insurance companies to the IRS “Dirty Dozen” list.
If you or your clients have captives that have elected treatment under section 831(b), this complimentary webinar is for you. Join former IRS Acting Commissioner and alliantgroup National Director of Tax, Steven Miller; former Senior Counsel to the U.S. Senate Finance Committee and alliantgroup National Managing Director, Dean Zerbe; and alliantgroup Managing Director of Tax Controversy Services, John Dies; as they discuss everything you or your clients will need to know regarding the IRS’s recent crackdown on micro captive insurance companies and the steps you need to take to ensure full compliance with IRS guidelines.
Here is some of what you can expect to learn during the Webinar:
With their inclusion on the “Dirty Dozen” list, it is clear that captives are an area of increased and intense focus for the IRS, with several audits of promoters and many of their clients already underway. In particular, the IRS is scrutinizing how:
- Captive managers market captives
- How risk pools operate
- How a small business runs its captive
While acknowledging the legitimacy of CICs, the IRS has publically stated their concern that many of these companies are being created and operated for tax versus business reasons. If a captive is found noncompliant by the IRS, the consequences are steep and can include:
- Disallowance of all deductions on insurance premiums for each year paid into the captive
- Understatement penalties
- Negligence penalties
If you have or manage small captives, don’t wait until the IRS comes knocking. Attend this complimentary webinar to ensure your full compliance with IRS regulations.
For more information on alliantgroup and our tax consulting services, please visit our website at www.alliantgroup.com