On February 25, 2020, in Rodriguez v. Federal Deposit Insurance Corporation, No. 18-1269 (U.S. 2020), the U.S. Supreme Court effectively ruled that the so-called “Bob Richards rule” should not be used to determine which member of a group of corporations filing a consolidated federal income tax return is entitled to a federal income tax refund.
USA, Insolvency & Restructuring, Litigation, Tax, Kelley Drye & Warren LLP, Income tax, Internal Revenue Service (USA), Federal Deposit Insurance Corporation (USA), Supreme Court of the United States