Thomson Reuters Settles Tax Challenge For $10M

Law360, Washington (October 20, 2017, 6:29 PM EDT) --  A U.S. Tax Court judge has signed off on a roughly $10 million settlement between the IRS and Thomson Reuters after the company challenged some $189 million in tax deficiencies assessed against it based on intercompany services income.

According to Judge L. Paige Marvel’s decision accepting the deal, the parties agree that Thomson Reuters America Corp. overpaid its 2010 income tax by $2.6 million but has a deficiency for its 2011 income tax totaling nearly $12.3 million, far less than the deficiencies it had initially faced....
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