A federal appeals court upheld tax regulations on certain cross-border cost-sharing agreements within corporations, delivering a victory for the Internal Revenue Service over Intel Corp. in a case closely watched by tech companies. The Ninth Circuit Court of Appeals ruled 2-1 on Friday for the IRS over Altera Corp., now an Intel subsidiary. The court had issued a similar ruling last year but heard the case again because one of the judges, Stephen Reinhardt, died before the ruling was issued.

Source: Wall Street Journal June 07, 2019 17:32 UTC