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Tax-Exempt Mayo Clinic Awarded $11.5M UBIT Refund, Invalidating Treasury Regulations In the Process

In a recent taxpayer win, the United States District Court for the District of Minnesota granted summary judgment in an $11.5 million refund claim brought by the Mayo Clinic (“Mayo”) on the basis that certain Treasury...more

Tax Reform Will Likely Limit Deductibility of Government Settlements

The new Tax Cuts and Jobs Act has changed certain provisions of the Internal Revenue Code (the Code) pertaining to the deductibility of amounts paid to Government entities for violations of law. Section 162(a) of the Code has...more

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