Chicago Baseball Holdings, LLC, et al v. CIR

Track this case

Case Number:

23-1243

Court:

Appellate - 7th Circuit

Nature of Suit:

tax 

  1. July 10, 2024

    Chevron's End Won't Affect Cubs Sale Tax Suit, 7th Circ. Told

    An anti-abuse rule the IRS is using to push for taxes on gains from Tribune Media Co.'s sale of the Chicago Cubs is not threatened by the U.S. Supreme Court ruling overturning the Chevron deference doctrine, an attorney for the IRS told the Seventh Circuit on Wednesday.

  2. July 05, 2024

    7th Circ. Asked To Weigh Chevron's End In Cubs Sale Tax Suit

    The Seventh Circuit should consider last week's U.S. Supreme Court ruling overturning the Chevron deference doctrine to scrutinize the IRS' claim that it has the authority to tax gains from Tribune Media Co's sale of the Chicago Cubs, a Tribune attorney urged.

  3. February 15, 2024

    Tax On Tribune's Cubs Sale Troubling, 7th Circ. Judge Says

    A Seventh Circuit judge said Thursday he was troubled by an IRS push to tax Tribune Media Co. on some gains from its sale of the Chicago Cubs that stemmed from a $425 million debt transaction, saying the agency seemed to ignore the relevant legal test.

  4. August 16, 2023

    US Chamber Backs Tribune In 7th Circ. Over Cubs Sale Funds

    The IRS arbitrarily modified rules and would create uncertainty in tax law in its approach toward a litigated $425 million loan used to finance Tribune Media Co.'s sale of the Chicago Cubs, the U.S. Chamber of Commerce told the Seventh Circuit in a brief.   

  5. August 09, 2023

    Cubs Sale Funds Aren't Considered Equity, 7th Circ. Told

    The U.S. Tax Court was incorrect to find that Tribune Media Co. can't reduce its gains from selling the Chicago Cubs by nearly $249 million, the company told the Seventh Circuit, contending that the funds were debt and not equity as the Tax Court had concluded.

  6. July 06, 2023

    Federal Tax Cases To Watch In 2nd Half Of 2023

    In the second half of 2023, tax pros will be watching a U.S. Supreme Court challenge to the repatriation tax enacted in the 2017 federal tax overhaul and a dispute between the government and multinational telecommunications company Liberty Global Inc. in a Colorado federal court. Here, Law360 highlights those and other notable pending federal tax cases to watch for the rest of the year.

  7. May 16, 2023

    Tribune's $425M In Cubs Sale Financing Taxable, 7th Circ. Told

    The U.S. Tax Court improperly determined that Tribune Media Co. could shield from tax $425 million that was used to finance its sale of the Chicago Cubs, the U.S. told the Seventh Circuit, arguing that Tribune wasn't actually at risk of having to pay back the debt.