Illinois Central Railroad Company v. United States of America

  1. December 17, 2015

    Rail Carrier Stock Options Are Taxable, IRS Says

    The Internal Revenue Service on Wednesday asked an Illinois federal judge to reject three Canadian National Railway Co. subsidiaries' call for a $13.3 million refund for taxes paid on employee stock options, saying that the options constitute taxable income.

  2. November 19, 2015

    Railroad Workers' Stock Option Income Is Taxable, US Argues

    The federal government on Wednesday urged an Illinois federal judge to determine that cashed-in railroad worker stock options are taxable compensation under federal law, seeking to put an end to a suit by three railroads that want $13.3 million back from the Internal Revenue Service.

  3. October 29, 2015

    Rail Carriers Seek Win In IRS Stock Option Tax Fight

    Three rail carriers urged an Illinois federal judge to force the Internal Revenue Service to pay a $13.3 million refund of taxes paid on employee stock options on Wednesday, arguing that the options are not taxable compensation under federal law.

  4. December 22, 2014

    Illinois Central Sues IRS To Recover $12M In Taxes

    Illinois Central Railroad Company sued the Internal Revenue Service in Illinois federal court on Monday, seeking to recover more than $12 million in allegedly overpaid federal taxes under the Railroad Retirement Tax Act on employee stock awards.