High Court Asked To Review Rail Stock-Options Tax Case

Law360, New York (December 7, 2017, 4:51 PM EST) -- The government Wednesday asked the U.S. Supreme Court to review a Seventh Circuit decision finding income from stock options provided to employees of a Canadian railroad company to be taxable compensation. The U.S. said a circuit split over the issue needed to be resolved.

The U.S. said in a brief the Seventh Circuit arrived at the correct conclusion that income from the options should be taxable whether considered under the Federal Insurance Contributions Act or the Railroad Retirement Tax Act, or RRTA. However, the Eighth Circuit has ruled otherwise, and the government said the high court should resolve the discrepancy....

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