- 2 -
Eric R. Fox, Dirk J.J. Suringa, Hamish P.M. Hume, and
Clifton B. Cates, for petitioner.
Wilton A. Baker, Alfred C. Bishop, Jr., Steven J. Hankin,
and Teri A. Culberton, for respondent.
SUPPLEMENTAL OPINION
WELLS, Chief Judge: This case is before the Court on remand
from the Court of Appeals for the Sixth Circuit in Intermet Corp.
& Subs. v. Commissioner, 209 F.3d 901 (6th Cir. 2000), revg. and
remanding 111 T.C. 294 (1998). In Intermet Corp. & Subs. v.
Commissioner, supra, the Court of Appeals held that Intermet
Corporation and its subsidiaries (hereinafter petitioner) is
eligible to carry back for 10 years pursuant to section
172(b)(1)(C), certain expenses, i.e., State tax liabilities and
interest on Federal and State tax liabilities, provided that
those expenses qualify as “specified liability losses” within the
meaning of section 172(f)(1)(B). The issue presented on this
remand for further proceedings consistent with the Court of
Appeals’ opinion is whether the expenses so qualify as specified
liability losses. Unless otherwise indicated, section references
are to sections of the Internal Revenue Code, as amended, and
Rule references are to the Tax Court Rules of Practice and
Procedure.
Background
This case was submitted to the Court on the basis of fully
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011