11th Circ. Asked To Nix Penalties For Captive Deductions

By Zak Kostro ( November 10, 2026, 6:51 PM EST) -- The U.S. Tax Court improperly imposed additional accuracy-related penalties against a Florida business for deductions it took for microcaptive insurance expenses, the business' owner told the Eleventh Circuit, saying the Tax Court's analysis of the case can't be reconciled with binding circuit precedent....

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