IRS Urges Supreme Court to Pass on Case Watched by Big Tech

The Supreme Court doesn’t need to review a challenge to tax regulations on assets shifted abroad because the regulations went through the proper procedures before being issued, the IRS argued in a court filing.

The brief, filed Thursday, urged the court to reject a petition from Intel-owned Altera Corp. seeking review of a decision by the U.S. Court of Appeals for the Ninth Circuit. The appeals court upheld Treasury regulations impacting the tax treatment of stock-based compensation, including when companies give employees the right to buy company stock at a specific price in the future through stock ...