“Coordinated effort” needed for CRA to overturn micro captive regulations 

The captive industry may be able to overturn the latest 831(b) regulations imposed by the Internal Revenue Service (IRS) using the Congressional Review Act (CRA), but a co-ordinated effort is needed from all stakeholders, according to Maggi Lazarus, attorney representing the MiniCap Coalition. 

Although the IRS made some concessions in its long-awaited final version of 831(b) regulations published in January, particularly in relation to loss ratio thresholds, industry commentators still believe it continues to target micro captives unfairly.