20 - 05 - 2021
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On Monday, 17 May the US Supreme Court ruled unanimously in favour of CIC Services, LLC and the captive insurance industry in its case against the Internal Revenue Service concerning the lawfulness of Notice 2016-66.
The IRS had argued the Anti-Injunction Act prevented any suit seeking to challenge the Notice. The Court ruled, however, that the Act does not preclude such a suit, which can now proceed.
In this 20 minute bonus episode, Richard is joined by Kevin Doherty, member at Dickinson Wright, legal consultant Cassie Bachman and Gary Osborne, vice president at Risk Partners, to explain what the case was about, what the Supreme Court ruled, what happens next and what, if any, wider ramifications there may be from the ruling.
Full Supreme Court opinion here.