Delaware Calls on Supreme Court to Halt IRS Insurance Summons

The Supreme Court should halt an IRS summons seeking records on captive insurance companies because the justices will likely reverse the lower court’s decision, Delaware said.

The Delaware Department of Insurance filed a stay application at the high court Friday, seeking to pause an April decision from the US Court of Appeals for the Third Circuit from taking effect. That ruling upheld a lower court’s decision allowing to proceed a 2017 summons from the IRS seeking information on two captive insurance companies to determine if they were involved in tax avoidance.

• Delaware said that the summons would cause “irreparable harm” ...