Under the new rules, the IRS requires anyone using a micro-captive in which claims amount to less than 60% of premiums to disclose their entity when they file their taxes by using a Form 8886.

The regulations mandate that taxpayers file Form 8886, Reportable Transaction Disclosure Statement, within a 180-day window for transactions tied to previously filed tax returns, considering a six ...

and impose an unreasonably short 180-day deadline for taxpayers to file Form 8886, Reportable Transaction Disclosure Statement, for transactions related to previously filed tax returns due to the ...