Supreme Court Won’t Review Major Tax Case for Big Tech (1)

The Supreme Court decided not to review an appeals court decision upholding regulations on the tax treatment of assets shifted abroad in a case closely watched by technology giants.

The Monday denial comes after years of litigation between Altera Corp. and the IRS, in which the U.S. Court of Appeals for the Ninth Circuit upheld the regulations, overturning a unanimous ruling from the U.S. Tax Court. Altera Corp. is owned by Intel, which acquired the company after the 2004-2007 tax years at issue in the lawsuit.

The 2003 regulations governing those tax years required Altera to include stock-based ...