Reorganized RFS Loses $37M Tax Refund Bid

Law360, New York (December 12, 2013, 2:30 PM EST) -- The U.S. Court of Federal Claims ruled Wednesday that Reorganized RFS Corp. isn’t entitled to the more than $37 million in tax refunds it claimed it was owed during its bankruptcy proceedings, because it sought the refunds over a decade too late.

Reorganized RFS had argued that a provision in the Internal Revenue Code allowed it to file amended tax returns featuring "special estimated tax payments" that accounted for money the company had neglected to deduct when it filed its original tax returns. However, according to...
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