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High Court Tax Refund Ruling Indicates State Law Authority

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > High Court Tax Refund Ruling Indicates State Law Authority

High Court Tax Refund Ruling Indicates State Law Authority

Law360 (February 27, 2020, 6:00 PM EST) — On Feb. 25, The U.S. Supreme Court issued its decision in Rodriguez v. Federal Deposit Insurance Corp.,[1] a case involving a dispute between (1) the trustee in bankruptcy of a defunct bank holding company, and (2) the FDIC, as receiver for the bank holding company‚Äôs failed bank subsidiary, over the ownership of a federal income tax refund that was payable by the U.S. Department of the Treasury to the bank holding company as the parent of a consolidated tax filing group.

The members of the consolidated tax filing group (including the parent and the bank) were parties to a tax allocation…

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