TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Google sues IRS for $83.5M refund

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

GOOG $877.07 +$3.42

at close on THURSDAY

By Bloomberg News
Friday, June 28, 2013, 12:01 a.m.
 

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Kennametal posts loss on restructuring, lower sales
  2. Continued education for therapists key to TEIS success
  3. Washington Health buying Southwest Regional Medical Center in Waynesburg
  4. Rice Energy moving again at Southpointe
  5. WPX Energy sells more Marcellus assets
  6. Increase in Pittsburgh gas prices slows
  7. Internet boosts Comcast’s profits 10%
  8. Google ‘Project Fi’ aims at cheaper, reliable wireless services
  9. Facebook grows platform access
  10. McDonald’s fast-food restaurant chain begins plan for revival
  11. Finding funding can be hard for ‘social enterprises’