Accountants and tax lawyers are seeing a rise in IRS audits directed at companies using captive insurance arrangements. While big businesses have long used captives as a way of managing risk, IRS efforts appear to be directed at smaller companies that rely on section 831(b) of the tax code. (In July we reported on the […]
Insurance Agent Indicted In Novel Scam
by Brian Mahany According to records obtained from the clerk of the Federal District Court in Baton Rouge, Louisiana, Timothy Schlatre was indicted earlier this week in a novel insurance scam designed to generate huge commissions by making false statements and fraudulent applications. Schlatre was charged with both money laundering and mail fraud. If convicted […]