Analysis

Amazon Win Shuts Down IRS' Broad Definition Of Intangibles

Law360 (August 20, 2019, 9:05 PM EDT) -- The IRS loss at the Ninth Circuit in its dispute with Amazon.com Inc. — the latest defeat for the government over cost-sharing rules — likely signals that legal battles over the precise definitions of intangible assets are coming to a close.

Employees walk through a lobby at Amazon's headquarters in Seattle in November 2018. (AP) The Ninth Circuit rejected the Internal Revenue Service's argument that concepts such as Amazon's goodwill, the value of its in-place workforce and other intangible concepts that are not intellectual property can be read into 25-year-old regulations. Those regulations were pulled in 2009, and the law itself was...

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