Quote by Phil Karter on “IRS Warns Micro Captive Users of Imminent Shock and Awe”
In an article published on October 2, 2020 in ThinkAdvisor, the editor discussed how the Internal Revenue Service is encouraging individuals with questionable micro captive insurance arrangements to talk with their tax advisors. Philadelphia-based Chamberlain Hrdlicka shareholder Phil Karter provided insight on how common micro captives are compared to life micro captives.
“Property and casualty insurance micro captives appear to be more common than life micro captives, but micro captives have used cash to buy corporate-owned life insurance,” explained Karter in November 2019.
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