Ex-Ad Exec Wins Appeal For $10M Tax Refund In 9th Circ.

Law360 (September 24, 2018, 5:56 PM EDT) -- A former ad agency executive won his appeal for more than $10 million in tax refunds when the Ninth Circuit ruled Monday that he had fulfilled a legal requirement to report inconsistencies between his personal tax return and that of his now-defunct advertising placement company.

Thomas Rubin had sued the Internal Revenue Service, claiming the agency had denied him a tax refund even after being advised that the bankruptcy trustee for Focus Media Inc. had incorrectly accounted for nearly $67 million of cancellation of indebtedness income and more than $23 million of bad debt expenses that Focus was entitled to write...

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