December 17, 2015
The Internal Revenue Service on Wednesday asked an Illinois federal judge to reject three Canadian National Railway Co. subsidiaries' call for a $13.3 million refund for taxes paid on employee stock options, saying that the options constitute taxable income.
November 19, 2015
The federal government on Wednesday urged an Illinois federal judge to determine that cashed-in railroad worker stock options are taxable compensation under federal law, seeking to put an end to a suit by three railroads that want $13.3 million back from the Internal Revenue Service.
October 29, 2015
Three rail carriers urged an Illinois federal judge to force the Internal Revenue Service to pay a $13.3 million refund of taxes paid on employee stock options on Wednesday, arguing that the options are not taxable compensation under federal law.
December 22, 2014
Illinois Central Railroad Company sued the Internal Revenue Service in Illinois federal court on Monday, seeking to recover more than $12 million in allegedly overpaid federal taxes under the Railroad Retirement Tax Act on employee stock awards.