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 […]
Met Life Pays Wrong Beneficiary, Refuses to Correct Error
by Brian Mahany We see many cases of insurance bad faith claims and this story is no exception. In a recent lawsuit, Jose Herrera sued Met Life after learning that Met Life paid the wrong person the proceeds of his late wife’s insurance policy. That sort of thing does happen and in most cases, the […]