Coal Co. Says IRS Wrongly Disallowed $100M In Credits

Law360, Washington (November 26, 2013, 3:49 PM EST) -- Ecotec Coal LLC has petitioned the U.S. Tax Court to reverse Internal Revenue Service adjustments nixing more than $100 million in refined coal tax credits that Ecotec had claimed in its partnership tax documents, saying the decision was arbitrary and capricious. 

The company claims the IRS had erred in disallowing virtually all of its general and administrative expense deductions and the entirety of its refined coal tax credits for tax years 2008, 2009 and 2010, according to a Nov. 12 petition made public last week....
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