2nd Circ. Refuses To Rehear IRS-WorldCom Tax Row

Law360, New York (November 20, 2013, 7:16 PM EST) -- The Second Circuit declined Tuesday to rehear a decision holding now-defunct WorldCom Inc. liable for millions in excise taxes on a telecom service that connected people using dial-up modems to the Internet.

WorldCom, now known as MCI Inc., had asked for a panel rehearing or a hearing en banc regarding an August 2012 Second Circuit ruling, but the appeals court declined to do either, issuing its edict in a one-page order that did not provide any reasoning.

The yearslong dispute concerns WorldCom's liability with respect to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.