Judge Orders IRS to Pay $23 Mil in Taxes and Interest

Category: Tax Law and Planning

From Yahoo News....a win, but not exactly for the little guy:

Judge Orders IRS to Pay Buffett's Firm - Yahoo! News: "A federal judge on Friday ordered the Internal Revenue Service to pay billionaire Warren Buffett's investment company more than $23 million in taxes and interest for disallowing certain deductions.

The ruling by U.S. District Judge Lyle Strom ended some three years of legal wrangling between Berkshire Hathaway Inc. and the IRS.

The case stemmed from two lawsuits that alleged the IRS made an 'erroneous, wrongful and illegal' interpretation of the U.S. Tax Code when it denied the deductions."