COURT DENIES IRS PETITION TO REHEAR UPS CASE
The 11th Circuit U.S. Court of Appeals has denied a petition of the IRS Commissioner to rehear its earlier decision in favor of UPS.
On June 20, the 11th Circuit reversed an August 1999 Tax Court ruling and remanded the case to the Tax Court for further review under provisions of the Tax Code cited by UPS.
UPS had paid $1.8 billion into a special account with the IRS pending a decision by the 11th Circuit Court of Appeals. That balance will remain in place pending further proceedings on remand.