Court Roundup: Zimmer Biomet, IRS Working on Possible Settlement

Zimmer Biomet Holdings Inc. and the Internal Revenue Service could settle their transfer pricing case, according to documents filed at the U.S. Tax Court.

The agency plans to respond in early December to the Indiana-based medical device maker’s settlement offer. The parties have held weekly phone updates to discuss the IRS’s progress.

Zimmer Biomet is challenging a $228.5 million adjustment related to intangible property it transferred to its Dutch unit.

The parties also said the IRS Office of Appeals is no longer considering later tax years affected by the dispute. Those tax years could impact the scheduling of the trial ...