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A coalition including two major captive associations is racing to meet an Internal Revenue Service deadline and submit arguments why a proposed IRS regulation would harm their industry.

The Coalition for Fairness to Captive Insurers (CFCI)–consisting of the Captive Insurance Companies Association, the Vermont Captive Insurance Association and more than 60 other members–have hired legal help to draft comments that must be submitted to the Internal Revenue Service by Dec. 27, according to CICA President Dennis P. Harwick.

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