FinancialRegulatory

U.S. Tax Court denies IRS request in Medtronic case

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.

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Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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