Texas Tax Services Company Settles Suit Over Licensee Wrongdoing

Umbrella Financial Services LLC, a tax preparation licensing business accused of enabling licensees to file false returns, must cease certain business activities as part of a deal reached with the government to end a lawsuit.

Umbrella provides professional tax software, financial services, bank products, and other support to licensees. The firm and the government filed a joint motion for a permanent injunction Wednesday, which would bar the Arlington, Tex.-based company from continuing its business. The injunction filed in the US District Court for the Northern District of Texas includes no admission of guilt and no admission of factual allegations levied ...