October 18, 2014 by Val Kennedy
The U.S. Tax Court has denied the IRS’s request for a partial summary judgment on the liability status of Medtronic’s Cayman Islands subsidiary in an ongoing tax case against the medical device titan.
The U.S. Tax Court has denied a request by the Internal Revenue Service that it issue a partial summary judgment concerning Medtronic’s Cayman Islands subsidiary in an ongoing tax case against the medical device titan.
At issue are certain transactions Medtronic (NYSE:MDT) made among its various units during the tax years 2005 and 2006. Medtronic is disputing the IRS’s adjustments of those transactions.
