GF&M's Own Jeffrey Simpson Quoted in Business Insurance Magazine

Jeffrey K. Simpson, a Director at Gordon, Fournaris, and Mammarella, was quoted in a recent issue of Business Insurance. The article, written by Rodd Zolkos, warned that 831(b) captive owners should be wary of increased IRS scrutiny.

Mr. Simpson was quoted as saying that most regulators don't keep track of the number of captives in their domicile that make an 831(b) election. "For the most part, nobody's really keeping track," Mr. Simpson said. He went on to say that he has only met one regulator tracks the number of captives making an 831(b) election, and that he has yet to meet a regulator that knew of a domicile that made any exceptions or accomodations to attract 831(b) captives.

To read Mr. Zolkos' full article and see the full scope of Mr. Simpson's comments, visit the BusinessInsurance.com website.