Appeals Court Sides With IRS In Tax Spat With Exxon
Exxon, which was paid interest on its overpayment and refunded a total of $1.75 billion two years ago, argued the IRS had miscalculated the interest rate and owed it another $140 million.
But the U.S. Court of Appeals for the Fifth Circuit on Monday ruled the IRS had correctly determined the rate.
The company had overpaid federal taxes owed between 1979...
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