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Special Alert on Xilinx: Tax Court of Appeals withdraws both the opinion and dissent |
Xilinx Update: Tax Court of Appeals withdraws both the opinion and dissent
On January 13, 2010, the United States Court of Appeals for the Ninth Circuit withdrew both the opinion and dissent that were filed on May 27, 2009 for the Xilinx v. Comm’r (567 F.3d 482 (9th Cir. 2009), rev’g 125 T.C. 37 (2005)). The opinion in this case has drawn a lot of criticism and concern from many corners, in large part because it concluded that the “all costs” requirements of the "old” cost sharing regulations (Treas. Reg. §1.482-7(d)(1)) were at odds with the arm’s length standard embodied in Treas. Reg. §1.482-1(b)(1) but that they nonetheless overrode that standard.
At this time, it is hard to know what the next steps will be in this case. Stay Tuned!
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