Quality Stores Asks High Court To Affirm $1M Tax Refund

Law360, New York (December 13, 2013, 3:31 PM EST) -- In a U.S. Supreme Court case closely watched by tax attorneys, Quality Stores Inc. recently took opening shots at the Internal Revenue Service, saying the bankrupt company deserved a $1 million tax refund because severance payments to involuntarily terminated workers aren't taxable under federal law.

The agricultural retailer argues in a brief filed last week that supplemental unemployment compensation benefits, called SUB payments, are not considered wages under the Revenue Code, citing its long string of victories on the issue that have led to the high...
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