Wells Fargo & Company v. United States of America

Track this case

Case overview

Case Number:

0:09-cv-02764

Court:

Minnesota

Nature of Suit:

Taxes

Judge:

Patrick J. Schiltz

Firms

Companies

Sectors & Industries:

  1. October 11, 2016

    Wells Fargo, Feds Dig In For Trial Over Foreign Tax Credit

    Wells Fargo & Co. and the IRS staked out their positions in a $76 million tax dispute on Friday ahead of a jury trial in Minnesota federal court later this month, with the government saying a transaction with Barclays PLC was a tax shelter and the bank calling the deal legitimate business.

  2. October 09, 2014

    Wells Fargo Backs Quick Win In Tax Fight Over $1.25B Deals

    Wells Fargo & Co. on Wednesday backed a special master's recommendation that a federal court grant the bank a partial win in its suit seeking tax credits tied to $1.25 billion in transactions with Barclays PLC, which the IRS says were designed solely to avoid income tax.

  3. July 22, 2014

    Wells Fargo Loses Round In $164M IRS Refund Suit

    A special master on Monday denied Wells Fargo & Co.'s bid for summary judgment in its suit claiming the Internal Revenue Service owes it a $164 million tax refund because a complex transaction known as STARS was not a tax shelter, saying there is a clash in the factual record.

  4. June 17, 2014

    Wells Fargo Can't Say Docs Are Privileged In $164M IRS Row

    A Minnesota federal judge has denied Wells Fargo & Co.'s claim that certain communication pertaining to a $1.25 billion structured trust advantaged repackaged securities, or STARS, transaction may be excluded as privileged from the bank's $164 million refund suit against the Internal Revenue Service.

  5. December 04, 2013

    Wells Fargo Says IRS Owes It $164M Over Barclays Deal

    Wells Fargo & Co. urged a Minnesota federal judge Monday to order the Internal Revenue Service to issue a $164 million tax refund over a $1.25 billion Barclays Bank PLC deal, saying the transaction that generated the refund served a legitimate business purpose.

  6. November 19, 2013

    Wells Fargo Says It Deserves $164M Tax Refund

    Wells Fargo & Co. told a Minnesota federal judge Monday that it was wrongly denied a quick win in its bid to receive a $164 million tax refund stemming from a purported sham transaction, saying the special master ignored settled law in sending the case to a jury.

  7. October 30, 2013

    Jury Should Decide $162M Wells Fargo Tax Spat, Court Says

    A jury should decide whether Wells Fargo & Co. is entitled to a $164 million tax refund stemming from a purported sham transaction involving a billion-dollar loan from Barclays Bank PLC, a special master said Friday.