Justices Urged To Skip Electric Co.'s $199M Deduction Appeal
By Amy Lee Rosen (May 11, 2018, 5:12 PM EDT) -- The IRS has insisted further review by the U.S. Supreme Court is not warranted for a lower court's finding in support of the government in its denial of a $199 million tax deduction for a Pennsylvania-based electricity supplier, saying legal precedent was correctly applied and no circuit conflicts existed.
In a brief in opposition to Duquesne Light Holdings Inc., the government said Thursday that the Third Circuit was correct in holding that neither the Internal Revenue Service nor other regulations clearly authorize the duplicative deductions that the energy company claimed, which is why the Pittsburgh-based utility company's petition for a writ...
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