A Florida couple has withdrawn its lawsuit against the company selling tax credits the IRS and Treasury Department have said don’t exist, and plans to instead pursue claims in arbitration.
Justin and Robin Daniels of Jupiter, Fla., alleged they paid $1.62 million to buy the so-called sovereign tribal tax credits they were assured were legitimate, until the IRS rejected their 2023 tax return and assessed $149,000 in penalties.
The couple this week voluntarily dismissed without prejudice their claims against White River Energy Corp., the credits’ sponsor. The lawsuit, filed in Florida Circuit Court, Palm Beach County, is still active against ...