The Morning Star Packing Compa, et al v. CIR
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August 13, 2024
IRS Wrongly Denied Tomato Cos. Deductions, 9th Circ. Told
Two companies that supply 40% of the United States' tomato paste and diced tomatoes told the Ninth Circuit that the U.S. Tax Court erred in keeping the companies from deducting the costs of restoring their production facilities before the actual restoration occurs.
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June 20, 2024
Tomato Cos. Can't Take Immediate Deductions, 9th Circ. Told
Two companies that supply 40% of the U.S.' tomato paste and diced tomatoes should not be allowed to deduct costs of restoring their production facilities before the actual restoration occurs, the IRS told the Ninth Circuit on Thursday in urging it to uphold a U.S. Tax Court ruling.