EYUS Tax Court approves agreement by Eaton Corporation and the IRS resolving APA cancellation case
|Tax Alerts, Transfer Pricing, Legislatio ...|United States
On 3 February 2023, the United States (US) Tax Court issued a stipulation approving an agreement between Eaton Corp. (Eaton) and the Internal Revenue Service (IRS) to adjust Eaton's tax bill for 2005 and 2006 to US$8.81 million.2 The proposal follows lengthy litigation in both the Tax Court and the Sixth Circuit Court of Appeals.
The case originated with Eaton's inadvertent errors in calculati…
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