Captive Insurance Firm Seeks Refund Of Allegedly Erroneous IRS Promoter Penalties

( April 13, 2026, 1:32 PM EDT) -- SHERMAN, Texas — A tax firm filed an amended complaint in a Texas federal court, seeking to recover refunds and invalidate the Internal Revenue Service’s assessment and collection of promoter penalties based on its captive insurance advisory work, including divisible amounts it paid and additional sums the agency allegedly offset and misapplied to those penalties....