Exelon Corporation v. CIR

  1. October 04, 2018

    7th Circ. Affirms $500M Tax Hit Against Exelon

    An energy company must pay over $500 million in taxes and penalties because it bore none of the "burdens or indicia" of ownership in several coal plants that were the basis of its claim for a Section 1031 like-kind exchange, the Seventh Circuit ruled Wednesday, upholding a decision by the U.S. Tax Court.

  2. May 24, 2018

    Exelon Takes $500M Tax Hit Over Coal Plant Sale To 7th Circ.

    Exelon Corp. asked the Seventh Circuit to reverse a U.S. Tax Court judgment hitting it with more than $500 million in tax deficiencies and penalties on Thursday, arguing the company's efforts to defer income tax on the sale of its Illinois coal plants were aboveboard.