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What To Know About IRS Microcaptive Insurance Settlements

February 10, 2020
Law360

In an article published on February 10, 2020 by Law360, Philadelphia-based Chamberlain Hrdlicka Shareholder Philip Karter provides advice to taxpayers who are participating in microcaptive insurance arrangements based on the latest decisions issued by the U.S. Tax Court.

“The most significant terms of the proposed resolution for microcaptive insurance transactions are that taxpayers must agree to concede 90% of their premium deductions, with the IRS agreeing to allow the remaining 10%," explains Karter.

Subscribers to Law360 may access the full article here.