Adkisson's Captive Insurance Companies

An Introduction to Captives, Closely-Held Insurance Companies and Risk Retention Groups, with supporting website at http://www.captiveinsurancecompanies.com

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Anecdotal Evidence of IRS Withdrawing Exemptions

Discussion of insurance companies qualifying for exempt treatment under IRC section 501(c)(15) for gross receipts not exceeding $600,000 per year of which at least half those receipts are premium income.
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Anecdotal Evidence of IRS Withdrawing Exemptions

Postby Jay » Tue Dec 16, 2008 11:36 am

I've heard from a number of tax planners that the IRS has been aggressively reviewing 501(c)(15) companies and withdrawing their exemptions.

This really doesn't surprise me, since probably few companies can technically qualify under the "new" 501(c)(15) because of the consolidated income limits.
My book: Adkisson's Captive Insurance Companies: An Introduction to Captives, Closely-Held Insurance Companies and Risk Retention Groups
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Jay
Partner of Riser Adkisson LLP
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