Altera Seeks Full 9th Circ. Review Of Cost-Sharing Case

By Molly Moses (July 22, 2019, 8:02 PM EDT) -- Chipmaker Altera Corp. on Monday asked all Ninth Circuit judges to rehear a case in which a 2-1 majority found that the Internal Revenue Service was justified in requiring related business entities to include stock-based compensation in their cost-sharing agreements.

Altera Corp. wants the entire Ninth Circuit to rehear its case about cost-sharing agreements. (Getty Images) The court's June 7 ruling, which reversed the U.S. Tax Court's 2015 holding for the company and reinstated a set of IRS regulations issued in 2003, upsets settled principles of tax law and validates bad rulemaking, the company's Monday petition said. The regulations at issue specifically require related parties engaged...

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