jueves, 7 de junio de 2012

Refund claim based on a self-initiated Section 482 adjustment dismissed by the US Claims Court

Intersport Fashions West Inc.’s (Intersport) suit seeking a refund for a self-initiated Section 482 adjustment has been dismissed by the US Court of Federal Claims. The court held that the plain language of Treas. Reg. Section 1.482-1(a)(3) bars refunds on an amended return that decreases taxable income and is filed after the due date of the original return.
Source & more info: Ernst & Young

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