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3M IRS TP dispute may lead to taxpayer refunds

Emma Powell
April 22, 2013
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US-based conglomerate 3M has filed a petition with the US Tax Court that could overturn a regulation allowing the IRS to reallocate funds between related parties where foreign law prohibits payment. If successful, taxpayers could be entitled to refunds on taxes paid up to three years ago and, in some cases, longer.

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