Google sues IRS for $83.5M refund
Google Inc., owner of the most popular Internet search engine, sued the Internal Revenue Service for an $83.5 million refund, claiming it was improperly denied a deduction for a 2004 stock transaction with America Online Inc.
The IRS erred in disallowing a $238.6 million deduction claimed for the difference between the price AOL paid to exercise a warrant for Google stock and the value of the shares, according to the complaint in U.S. Tax Court.
Dean Patterson, an IRS spokesman, didn't immediately reply to an email seeking comment on the lawsuit.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Heinz merging with Kraft in mega-deal; headquarters to stay in Pittsburgh
- If you get this letter from the IRS, it’s legitimate
- Increased credit card use reflects confidence, flat wages
- Corporate missteps hurt reputations, profits, sometimes in long run
- Farmers fund research on gluten-free wheat
- Home appraisal is below sales price — now what?
- Falling demand for steel not likely to reverse any time soon
- Tourists rush to visit Cuba before American influence felt
- Stop foreign dumping, U.S. Steel CEO Longhi tells Congress
- Venting online about job protected
- Komando: Boost cellphone signal when nixing landline