Judge Gregg Costa, of the U.S. Court of Appeals for the Fifth Circuit, is resigning from the bench in August 2022. Courtesy photo Citing 'Occult Mysteries,' Appeals Court Nips $200M IRS Penalty Against Exxon
The panel sided with the government in the bulk of the convoluted tax case, rejecting a more than billion-dollar tax refund Exxon sought.
August 03, 2022 at 06:46 PM
3 minute read
A federal appeals court nipped a $200 million penalty that the IRS imposed on ExxonMobil for wrongly seeking a $1 billion tax refund, with the panel likening the underlying and convoluted area of law to "occult mysteries."
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