English
Arabic
Dutch
Finnish
French
German
Korean
Thai
The US Supreme Court ruling in the CIC Services case against the Internal Revenue Service (IRS) has been described by Ryan Work, vice president, government relations at Self-Insurance Institute of America (SIIA), as “an important victory” for the captive insurance industry.
The court ruled that the Anti-Injunction Act does not prevent Federal Courts from enjoining the IRS’s enforcement of illegal regulations when the regulation imposes affirmative reporting obligations that inflict costs on taxpayers separate and apart from any tax or tax penalty.
In addition, when any potential tax that may someday be assessed is many steps downstream from the present lawsuit, and when non-compliance with the illegal regulation is also backed by the threat of…
