The IRS may withdraw a private letter ruling it issued in 2012 that said investment tax credits can be claimed on solar projects owned by Indian tribes. The ruling involved an inverted lease transaction. The issue is whether such a project is “used by” the tribe. At least two IRS branches are recommending withdrawing the ruling. The ruling is Private Letter Ruling 201310001 . . . . An IRS branch chief warned that the agency is looking more closely at captive insurance pools. If participants in such a pool are required to repay the pool with interest for any claims that are paid by the pool, then the pool is not really insurance and “premiums” paid to it are not deductible. The branch chief, Sheryl Flum, made the comment during an American Bar Association webinar in late May.