October 11, 2016
Wells Fargo & Co. and the IRS staked out their positions in a $76 million tax dispute on Friday ahead of a jury trial in Minnesota federal court later this month, with the government saying a transaction with Barclays PLC was a tax shelter and the bank calling the deal legitimate business.
October 09, 2014
Wells Fargo & Co. on Wednesday backed a special master's recommendation that a federal court grant the bank a partial win in its suit seeking tax credits tied to $1.25 billion in transactions with Barclays PLC, which the IRS says were designed solely to avoid income tax.
July 22, 2014
A special master on Monday denied Wells Fargo & Co.'s bid for summary judgment in its suit claiming the Internal Revenue Service owes it a $164 million tax refund because a complex transaction known as STARS was not a tax shelter, saying there is a clash in the factual record.
June 17, 2014
A Minnesota federal judge has denied Wells Fargo & Co.'s claim that certain communication pertaining to a $1.25 billion structured trust advantaged repackaged securities, or STARS, transaction may be excluded as privileged from the bank's $164 million refund suit against the Internal Revenue Service.
December 04, 2013
Wells Fargo & Co. urged a Minnesota federal judge Monday to order the Internal Revenue Service to issue a $164 million tax refund over a $1.25 billion Barclays Bank PLC deal, saying the transaction that generated the refund served a legitimate business purpose.
November 19, 2013
Wells Fargo & Co. told a Minnesota federal judge Monday that it was wrongly denied a quick win in its bid to receive a $164 million tax refund stemming from a purported sham transaction, saying the special master ignored settled law in sending the case to a jury.
October 30, 2013
A jury should decide whether Wells Fargo & Co. is entitled to a $164 million tax refund stemming from a purported sham transaction involving a billion-dollar loan from Barclays Bank PLC, a special master said Friday.