Delaware has withdrawn its request to the US Supreme Court to halt an IRS summons on captive insurance companies.
The Delaware Department of Insurance filed a letter on Wednesday withdrawing the emergency stay it requested, stating that it had reached an agreement with the United States.
The withdrawal came two days after the state insurance department called on the high court to halt an April decision from the US Court of Appeals for the Third Circuit from taking effect. The decision allowed to proceed a 2017 IRS summons into the business activities of two captive insurance companies to determine if ...
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