Financial disability provision does not suspend statute of limitation on taxpayers’ refund claims

Financial disability provision does not suspend statute of limitation on taxpayers’ refund claims A district court dismissed a married couple’s claim for refunds due to a lack of subject–matter jurisdiction because they did not timely file the claims with the IRS. It ruled that the Read More …

Tax Court denies microcaptive insurance arrangement

Tax Court denies microcaptive insurance arrangement The Tax Court held that a purported insurance arrangement involving family–owned manufacturing companies, a microcaptive insurance company, and two fronting carriers was not insurance because the fronting carriers were not bona fide insurance companies that issued insurance policies, and Read More …