IRS Loses Huge Captive Insurance Lawsuit against Rent-A-Center
A favorable Tax Court ruling looks promising for the continuity of benefits available to business owners interested in forming captive insurance companies to mitigate their risks and take advantage of the income tax benefits. UltraTrust.com takes a look at this wealth transfer and financial planning strategy.
Boston, MA (PRWEB) March 27, 2014
…In a way, the millions of dollars the company spent on litigation against the IRS probably came from the savings realized through years of CIC coverage.
- naic.org/cipr_topics/topic_captives.htm 1/17/14
- natlawreview.com/article/managing-risk-captive-insurance-companies 2/20/14
- forbes.com/sites/irswatch/2014/01/07/irs-continues-to-attack-offshore-captive-insurance/ 1/7/14
- ustaxcourt.gov/InOpHistoric/Rent-A-CenterDiv.Foley.TC.WPD.pdf 1/14/14
- forbes.com/sites/jayadkisson/2014/02/21/rent-a-center-creates-a-captive-insurance-legacy-in-tax-court/ 2/21/14