Late Paperwork Costs Deutsche Bank In Tax Refund Appeal

Law360, New York (February 18, 2014, 3:48 PM EST) -- A paperwork omission from more than a decade ago has come back to haunt Deutsche Bank AG, which will miss out on eight months of interest on a $59 million tax refund because of the oversight, a Federal Circuit panel ruled Tuesday.

When the bank first filed its 1999 income tax returns, it did not include Form 8805 or 1042-S in its submission. The bank submitted the forms in an amended return 10 weeks later, but the IRS assessed that interest on the bank’s refund did...
To view the full article, register now.