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Micro-Captive Cases Could Go to IRS Criminal Unit, Official Says

Nov. 14, 2019, 3:56 PM

The IRS is looking into sending some micro-captive insurance fraud cases to its Criminal Investigation office, according to Eric Hylton, commissioner of the Small Business/Self-Employed Division.

“Micro-captives is another area in which we want to think about are there some fraud cases that we want to send over to CI, some quality fraud cases?” Hylton said Nov. 14 at the American Institute of CPAs conference.

Micro-captives are small insurance companies that may choose to pay tax solely on investment income under tax code Section 831(b), assuming the company’s premium income doesn’t exceed $2.3 million.

  • IRS Commissioner Charles Rettig, ...