In 2002, the IRS issued guidance on captive insurance. The three new revenue rulings and a revenue procedure address deductibility of premiums paid to a wholly owned insurance subsidiary. The first revenue ruling can be found HERE.
As we previously told you, section 603 of the SECURE 2.0 Act added section 414(v)(7) to the Internal Revenue Code. Section 414(v)(7) requires that catch-up contributions to 401(k) plans made...
When it comes to protecting your business against risks and uncertainties, insurance is a fundamental piece of the puzzle. However, in today's dynamic and ever-changing business landscape, traditional insurance may...
In two separate posts over the past couple of years, we told you about the demise of Notice 2016-66 and the reporting requirements for so-called “micro-captive transactions”. To briefly recap,...
