(February 13, 2024, 10:02 AM EST) -- WASHINGTON, D.C. — In a decision “[c]onsistent with” the court’s handful of rulings on microcaptive arrangements, a U.S. Tax Court judge sustained Internal Revenue Service determinations that two captive insurers did not qualify to escape taxes on purported premiums and that the couple who controlled the captives cannot deduct those amounts and “are liable for the alternative 20% accuracy-related penalties.”...