Chaz Lavelle Attorney Quoted in Business Insurance
Bingham Greenebaum Doll LLP partner Charles J. Lavelle was quoted in a recent Business Insurance article concerning a Senate Finance Committee proposal that would make 831 (b) captive insurers even more financially attractive.
While the proposal is far from becoming a law (a Senate vote as not yet been scheduled), Lavelle discussed the IRS’ reaction to such a proposal.
“The IRS will fight the proposal as written, but I think the IRS will propose restrictions, which if adopted, the administration then would support the legislation,” said Lavelle. “But if the new proposal is overly restrictive, the captive industry would lobby lawmakers to lessen those restrictions.”