Tax Court addresses interest-netting issues

Washington National Tax Services
The U.S. Tax Court recently ruled in favor of Exxon Mobil Corporation in a case regarding interest netting on tax overpayments and underpayments. While a key holding in the case regarding retroactivity is of limited applicability because it involved interest prior to July 22, 1998, the decision addresses a variety of interesting issues regarding the Tax Court's jurisdiction over interest-netting cases.


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