facebook
twitter
rss
account
search
search
 

Judge derides IRS lingo in awarding refund to Steinbrenner

June 11, 2013 at 12:34 PM   |   Comments

TAMPA, Fla., June 11 (UPI) -- A son of the late George Steinbrenner does not have to repay a $670,000 refund from the Internal Revenue Service, a Tampa, Fla., judge has ruled.

In his decision, U.S. District Judge Steven Merryday criticized the tax code as "forbidding arcana" and "intractably muddled," the Tampa Bay Times reported Monday.

The IRS had not disputed that Harold "Hal" Steinbrenner, managing general partner of the New York Yankees, had the partnership-related refund coming. However, the agency said the two-year statute of limitations on the refund had expired. Steinbrenner's lawyers said the IRS should have applied a three-year statutory limitation because of circumstances surrounding the refund.

Steinbrenner had paid nearly $1 million in additional taxes after an IRS audit of a Yankees Holdings company for tax years 2001 and 2002.

The bill affected the tax liabilities for the Steinbrenner family trust, but the IRS said the loss couldn't be distributed to the beneficiaries for 2002. The trust could amend its return for 2001, which resulted in Steinbrenner getting the refund.

Two years the IRS sued, saying the refund shouldn't have been paid.

The judged sided with Steinbrenner and his wife on Friday.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Pakistani leader intimately connected to IS Pakistani leader intimately connected to IS
2
John Wayne Gacy room at Rob Zombie's haunted house angers victims John Wayne Gacy room at Rob Zombie's haunted house angers victims
3
Boston Herald apologizes for 'racist' Obama cartoon Boston Herald apologizes for 'racist' Obama cartoon
4
Loose mountain lion spotted in Brentwood Loose mountain lion spotted in Brentwood
5
Nikki Haley lead down to 10 points in S.C. re-election Nikki Haley lead down to 10 points in S.C. re-election
Trending News
x
Feedback