What Microcaptive Reporting Ruling May Mean For The IRS

By Samuel Lauricia ( April 11, 2022, 6:14 PM EDT) -- On March 21, the U.S. District Court for the Eastern District of Tennessee issued an injunction in CIC Services LLC v. Internal Revenue Service, barring the IRS from enforcing disclosure and reporting obligations under IRS Notice 2016-66,[1] which designated Internal Revenue Code Section 831(b) microcaptive transactions as transactions of interest.[2]...

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