Medtronic, IRS Head to Trial Again in 2020 Over $1.4B Dispute (1)

June 12, 2019, 7:27 PM; Updated: June 12, 2019, 8:45 PM

Medtronic Plc is once again headed to trial with the IRS in a $1.4 billion case over the value of intellectual property it transferred offshore.

The world’s largest medical device-maker and the Internal Revenue Service are looking at a week-long trial in spring 2020, according to a court order served June 11. The trial will allow expert testimony to help U.S. Tax Court Judge Kathleen Kerrigan craft a stronger opinion on the value of assets transferred between Medtronic and its manufacturing unit in Puerto Rico.

Kerrigan’s original opinion, in June 2016, following the first six-week trial, was ...

To read the full article log in. To learn more about a subscription click here.