SRA 831(b) Admin and captive owner files suit against IRS

SRA 831(b) Admin, along with Drake Insurance Co. and Drake Plastics Ltd. Co., have filed a suit against the Internal Revenue Service over their treatment of 831(b) micro captives.

831(b) captives have been under intense scrutiny from the IRS, with the Service finally publishing its long-awaited update to its 831(b) regulations in January.

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