Kinder Morgan, US Drop $20M Tax Credit Sequestration Row

By Yvonne Juris (March 26, 2020, 5:25 PM EDT) -- Kinder Morgan agreed to drop a dispute with the U.S. claiming the IRS owed the company about $20 million in tax refunds, after the agency announced alternative minimum tax credits would not be sequestered under a government spending cap program.

U.S. District Judge George C. Hanks Jr. of the Southern District of Texas on Wednesday tossed Kinder Morgan Inc.'s suit claiming the Office of Management and Budget wrongly decided to withhold the credits under budget sequestration, which places a limit on government spending, according to the order.

The case was dismissed following a stipulation filed that day by the Texas energy...

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