The Internal Revenue Service correctly reclassified AbbVie’s $1.6 billion break fee to an Irish biotechnology company as a capital loss, the agency told the U.S. Tax Court, arguing that the failed merger is tantamount to disposing of property.
IRS Tells Tax Court AbbVie’s $1.6B Break Fee Is A Capital Loss
by usoftax_admin | Aug 2, 2024 | Tax News