Bloomberg Tax
Dec. 27, 2018, 1:00 PM

Court Roundup: Facebook, IRS Push to Postpone Tax Court Trial

Sony Kassam
Sony Kassam

Facebook Inc. hopes to avoid a trial by settling a case in the U.S. Tax Court that could cost it up to $5 billion.

The social media giant and the Internal Revenue Service filed a motion to Judge Cary Douglas Pugh to postpone their August 2019 trial to at least February 2020. The parties want more time to “explore potential settlement” without upending either side’s ability to prepare for a trial.

Facebook is challenging a tax bill that hinges on the value of intangible assets—things other than hard assets—it transferred to its Irish subsidiary in 2010. The IRS argues ...