Here's a very provocative piece from CIC Services LLC arguing that the IRS is honing in on the territory and responsibilities of state regulators by deciding what is and what isn't insurance -- a power reserved to the states under McCarran-Ferguson. The piece argues that the IRS' contention that it has the power to decide what falls under the ordinary definition of "insurance" has been gainsaid numerous times by the courts, most recently in the RVI case, but that the IRS nonethel [...]
