June 23, 2017
Subsidiaries of the Canadian National Railway Co. urged the Seventh Circuit to reconsider its divided decision that nonqualified stock options are taxable in a $13.3 million lawsuit against the IRS, saying in a petition Thursday that the ruling conflicts with the court's own prior decisions as well as U.S. Supreme Court precedent.
May 09, 2017
A Seventh Circuit panel dealt another blow Monday to three Canadian National Railway Co. subsidiaries that have argued nonqualified stock options are not money or taxable compensation in a $13.3 million lawsuit against the IRS, though one of the judges dissented.
January 12, 2017
The Internal Revenue Service on Wednesday told the Seventh Circuit not to revive a bid from three Canadian National Railway Co. subsidiaries for a $13.3 million refund for taxes paid on employee stock options, saying that the shares are taxable compensation under the Railroad Retirement Tax Act.