The Internal Revenue Service has reached a settlement with Bruce Molnar, co-founder of Alta Holdings, over his involvement in microcaptive insurance arrangements that the agency deemed non-compliant with federal tax law between 2005 and 2012.
Businesses using corporate owned life insurance (COLI) and buy-sell agreements need to reassess their succession planning strategies following the Supreme Court’s decision in Connelly v. U.S.
The Supreme Court’s decision in *Connelly v. United States* clarifies the valuation of life insurance proceeds in estate tax calculations, impacting closely held corporations and their succession planning.
