Kinder Morgan Wants $20M Reimbursement For Tax Credits
Law360 (August 28, 2019, 2:14 PM EDT) -- The U.S. government owes Kinder Morgan Inc. $20 million in alternative minimum tax refunds that it wrongly “sequestered,” the Texas energy company told a federal court.
Sequestration applies only to federal spending, not to money that is rightfully owed in tax refunds, Kinder Morgan argued in a complaint filed Tuesday. The Internal Revenue Service also acted arbitrarily and capriciously in violation of the Administrative Procedure Act by reducing its tax refund without going through any rulemaking process, it added.
“Sequestration applies to discretionary appropriations and direct government spending, but Kinder Morgan's refundable tax credits are neither,” the company said.
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