May 13, 2022
A captive insurer owes tax on premiums it received from a mining company after the Tenth Circuit on Friday affirmed a U.S. Tax Court decision determining it wasn't in the business of insurance and couldn't claim preferential tax treatment.
July 09, 2021
Over the next six months, courts may explore substantive administrative law challenges to microcaptive and conservation easement tax regulations, the future of an estate planning technique, the intersection of tax and insurance laws, and the scope of IRS summons powers. Here, Law360 looks at four federal tax cases worth monitoring in the second half of 2021.
May 04, 2021
A Tenth Circuit judge questioned Tuesday whether a company embroiled in a dispute with the IRS over its use of a microcaptive insurance structure could justify charging $400,000 in premiums for a policy worth $1 million.
July 06, 2020
The Anguilla-based captive insurer of an Idaho mining company isn't entitled to a tax exemption because its arrangements didn't constitute insurance, the U.S. told the Tenth Circuit on Monday, urging it to affirm a decision from the U.S. Tax Court.
February 28, 2020
A U.S. Tax Court decision to deny a tax deduction to the captive insurer of an Idaho mining company undermined years of insurance practice, captive-insurance associations for 10 states said in a recent amicus brief for the Tenth Circuit.
February 24, 2020
The U.S. Tax Court misunderstood the nature of the insurance industry when it ruled erroneously that a captive insurer of an Idaho hazardous mining company didn't qualify for a tax deduction, the insurance company has told the Tenth Circuit.