8th Circ. Voids Tax Court Ruling In $1.36B Medtronic Case

Law360 (August 16, 2018, 9:13 PM EDT) -- The Eighth Circuit struck a blow Thursday to Medtronic Inc. in its $1.36 billion dispute with the Internal Revenue Service, vacating a favorable U.S. Tax Court decision after finding that the judge in the case had not justified the pricing.

The U.S. Tax Court was ordered to justify a determination slashing Medtronic's tax liability in a dispute with the IRS. (Medtronic) The case will return to the Tax Court, which found in January 2017 that the medical equipment company owed only $14 million in an adjustment over its 2005-2006 tax years, stemming from royalty payments to the company's U.S. headquarters from...

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