Tag: Micro-captive insurance
-
IRS Targets Small Micro-captive Insurance Companies
So-called micro-captives, small captive insurance companies that elect to be taxed under section 831(b) of the Internal Revenue Code, which allows small insurance companies to be taxed only on their investment income, have been the target of IRS scrutiny in recent years. In 2020, the agency deployed 12 new micro-captive examination teams to substantially increase…