Like many taxpayers, Texas-based Baker Hughes is not happy with the Internal Revenue Service. However, instead of just grumbling about its disallowed deduction, the company decided to take the federal agency to court.
Baker Hughes recently sued the IRS in the U.S. District Court for the Southern District of Texas, Houston Division, seeking a $17.65 million refund in taxes. Baker Hughes alleges that the federal agency improperly disallowed a deduction to which it was entitled before 2009 when the company merged with BJ Services Co. (BJ Parent). The deduction was for a bad debt related to the failed business operations of BJ Russia, a now defunct affiliate of BJ Parent.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
