‘Loper Bright’ Helps FedEx Beat $84 Million Tax Case Against IRS

The government won’t be able to cut down the $84.6 million tax credit judgment that FedEx Corp. won at the US District Court for the Western District of Tennessee.

Judge Samuel H. Mays Jr. denied a “haircut” that would grant FedEx the refund but in a reduced amount. The government had asserted that the company misinterpreted the rules and that the credits it was seeking still didn’t apply to the income it was using them on.

But Mays disagreed, saying the IRS arguments “ignore the plain language of the dispositive statutory provisions,” and therefore he declined to defer to its ...