Jay Adkisson has made available his article, Delaware Department Of Insurance Loses IRS Summons Fight For Artex And Tribeca Captives But Can Appeal, published in Forbes. The article begins as follows:
I have previously written about the lawsuit filed by the U.S. Department of Justice to enforce an IRS summons directed to the Delaware Department of Insurance (DDOI) for its e-mails and other documents relating to the investigation of Artex Risk Solutions, Inc. (which is affiliated with Arthur J. Gallagher & Co.), and Artex’s predecessor, Tribeca Strategic Advisors, LLC, which was a prolific if not hyper-aggressive marketer of numerous so-called risk-pooled 831(b) microcaptive tax shelters. Basically, the IRS issued a summons to the DDOI for its information relating to numerous of the Artex microcaptives domiciled in Delaware, and the DDOI refused to produce the documents on the dubious basis that § 6920 of the Delaware Insurance Code requires those documents to be held in confidence.
To see the full article, click: Delaware Department Of Insurance Loses IRS Summons Fight For Artex And Tribeca Captives But Can Appeal by Jay Adkisson
Posted by Josh Saret, Associate Editor, Wealth Strategies Journal.