The US Internal Revenue Service (IRS) is attempting to intimidate micro captives through complexity rather than regulating with clarity, according to Steve Quance, president of Drake Plastics, and 831(b) micro-captive owner.
In June, the SRA 831(b) Admin, along with Drake Insurance Co. and Drake Plastics Ltd. Co., filed a suit against the IRS over their treatment of 831(b) micro captives.
Subscribe to Ci Premium to continue reading
Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.
