Under Audit for Micro-Captive Insurance Issues? The IRS Wants to Settle.

May 31, 2021September 20, 2019 by admin

On September 16, 2019, the United States Internal Revenue Service (IRS) announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. The settlement requires substantial concession of the income tax benefits claimed by the taxpayer together with appropriate penalties (unless the taxpayer can demonstrate good … Read more

SCOTUS Finds Minimum Contacts are Still Required to Tax a Trust

May 31, 2021September 3, 2019 by admin

In a little piece of good news – especially for those who value propert asset protection and estate planning – The Supreme Court, in a unanimous decision, held that the presence of beneficiaries of a trust in a state does not alone give a state the power to tax the trust’s income. The court found … Read more