Monday, February 26, 2024

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GCP Explainer: IRS vs Delaware Department of Insurance

Mikhail Raybshteyn, EY
Cassie Bachman, Elevate Risk Solutions
Ben Whitehouse, Butler Snow LLP

In this GCP Explainer episode, Richard is joined by a panel of experts to explain the 16 July decision by a United States District Court in Delaware that went against the Delaware Department of Insurance and for the Internal Revenue Service, concerning the release of client-specific documents previously requested by the Service.

Mikhail Raybshteyn, Partner and Co-Leader of EY’s Captive Insurance Services, Ben Whitehouse, Senior Counsel at Butler Snow LLP, and Cassie Bachman, Managing Director of Operations and Legal at Elevate Risk Solutions, discuss the reasons why the IRS prevailed on this occasion, what happens next and the potential wider ramifications for captive owners, advisors and regulators in the United States.

To read the full order by Magistrate Judge Christopher J. Burke, click here.