Federal Circuit Court of Appeals Upholds Denial of Sunoco’s One Billion Dollar Tax Expense

U.S. Department of Justice press release --------- The Federal Circuit Court of Appeals issued a precedential opinion on Thursday affirming the Court of Federal Claims decision that federal corporate taxpayers may not deduct as a cost of goods sold expense an excise tax expense that was never actually incurred or paid, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman and Deputy Assistant Attorney General Travis A. Greaves of the Justice Department’s Tax Division. To learn more click on the picture below to read the release.