Plaintiff Sues Over Penalties Assessed In Connection With Captive Insurance Program

( July 22, 2024, 8:05 AM EDT) -- PITTSBURGH — Demanding a jury trial, a Pittsburgh-based corporation has filed a suit in Pennsylvania federal court seeking a refund of its $989,000 partial payment of penalties that were assessed after the Internal Revenue Service decided that its involvement with a purported captive insurance program constituted tax shelter promotion....