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ALERT: IRS Notice 2016-66: Potential Pitfall for Dealerships in Captive or Reinsurance Programs
Republished from NADA Headlines By Andy Weill The Internal Revenue Service has been quite active with regard to perceived abuses in the area of microcaptive insurance. In particular, the IRS promulgated Notice 2016-66 in November 2016, designating certain microcaptive transactions to be “transactions of interest,” mandating certain reporting requirements. Counsel