As a result of its increased scrutiny of small captive insurance companies, the IRS outlined new disclosure requirements for micro-captive transactions last November. The original due date of the disclosure, included in IRS Notice 2016-66, was January 30, 2017. After receiving a significant amount of requests for an extension, the IRS recently issued Notice 2017-08, which extends the deadline for compliance with the information requirements to May 1, 2017. The deadline is the same for captive owners, insured businesses and material advisors who participate in “transactions of interest.”
IRS Extends Deadline for Micro-Captive Reporting to May 1, 2017
Posted by bgoricki on Feb 1, 2017 12:39:14 PM
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Topics: Accounting, captive insurance companies, Deadline, news, Uncategorized
To help you make sure you don’t miss any important 2014 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review it and let us know if you have any questions about the deadlines or would like assistance in meeting them.
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Topics: Deadline, Extensions, Form 1040, Form 1065, Form 1120, Form 4070, Form 5500, Form 709, Form 941, Form 990, Tax, Tax Calendar, Uncategorized