OIFP

AcronymDefinition
OIFPOffice of the Insurance Fraud Prosecutor
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References in periodicals archive ?
A review of the state Department of Law and Public Safety cited staff shortages as to why OIFP has been unable to fully use some $25 million in industry fees that fund its operation.
"That authority to investigate civilly and charge civilly has been explicitly taken out of the OIFP."
It's being done to clear room for the 89 state employees from the OIFP who will transfer into Considine's newly anointed state Bureau of Fraud Deterrence.
This tax avoidance motive test is similar to the test in the OIFP rules, except that the OIFF rules refer explicitly to the avoidance of Canadian income taxes.
Under the terms of the plea agreement, which was contingent upon Hunt's guilty plea in the OIFP case, DCJ will recommend Hunt be sentenced to five years in state prison to run concurrently with her OIFP sentence.
The FIE Rules will replace the OIFP rules and will backstop the FAPI rules (which only prevent deferral in respect of controlled foreign affiliates (CFAs)).
The FIE Rules substantially extend the OIFP rules, raising numerous policy and administrative concerns, as highlighted below.
(4) Section 94.1 of the Act requires a taxpayer to include in income a specified amount determined by applying a prescribed rate of interest to the "designated cost" of an OIFP. In general terms, the OIFP rules apply only if:
* the OIFP is an interest in a "non-resident entity" (other than a CFA of the taxpayer),
* one of the main reasons for the taxpayer acquiring the OIFP is to significantly reduce Canadian income taxes.