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JUL 02, 2013 - Yahoo! News

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IRS battles tech companies over 2004 offshore tax holiday

By Patrick Temple-West WASHINGTON (Reuters) - The Internal Revenue Service and two technology firms are fighting in court over tax bills from a 2004 corporate tax holiday, with other multinationals watching closely for a result that could come any day, said tax lawyers. In separate cases, BMC Software Inc and Analog Devices Inc are challenging IRS demands that the companies pay more tax, arguing the agency's claim breaches the controversial tax holiday law Congress enacted nine years ago. The two cases are believed to be the first U.S. ...

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