US tax authorities to ‘vigorously pursue’ micro-captives

National Treasury Building, Washington DC, USA. Credit: Getty Images/Zurich.

The end may be nigh for so-called ‘micro-captives’ in the US, following the news that the US Internal Revenue Service (IRS) is to significantly increase enforcement activity and “vigorously pursue” those involved in micro-captives. The IRS said that “abusive micro-captives” have been a threat to tax administration and a concern for several years, having identified certain micro-captive transactions as having…

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