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Medical Device Maker, IRS Reach Accord in Transfer Pricing Case

OCT. 28, 2021

Zimmer Biomet Holdings Inc. et al. v. Commissioner

DATED OCT. 28, 2021
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Zimmer Biomet Holdings Inc. et al. v. Commissioner

ZIMMER BIOMET HOLDINGS, INC. AND AFFILIATES F.K.A. ZIMMER HOLDINGS, INC. AND AFFILIATES,
Petitioner,
v.
COMMISSIONER OF INTERNAL REVENUE,
Respondent.

UNITED STATES TAX COURT

Judge Nega

Proposed Stipulated Decision

DECISION

Pursuant to the stipulation of the parties filed in this case, and incorporating herein the facts stipulated by the parties as the findings of the Court, it is

ORDERED AND DECIDED: That there is no deficiency due from petitioner for the taxable year 2008 and that there is an overpayment in income tax for the taxable year 2008 in the amount of $48,684,921.95, which amount was paid by petitioner on February 14, 2014, and for which a claim for refund could have been filed under the provisions of I.R.C. § 6511(b)(2), on December 21, 2018, the date of the mailing of the notice of deficiency; and

That there is a deficiency in income tax due from petitioner for the taxable year 2009 in the amount of $9,923,849.00 and that there is an overpayment in income tax for the taxable year 2009 in the amount of $8,036,420.54, which amount was paid by petitioner on February 14, 2014, and for which amount a claim for refund could have been filed under the provisions of I.R.C. § 6511(b)(2), on December 21, 2018, the date of the mailing of the notice of deficiency.

Judge.

* * * * *

It is hereby stipulated that the Court may enter the foregoing decision in this case in accordance with the stipulation of the parties submitted herewith.

It is further stipulated that interest will be credited or paid as provided by law on any overpayment in tax due to petitioners.

Any overpayment does not include any underpayment interest liability for the relevant taxable periods.

It is further stipulated that interest will accrue and be assessed as provided by law on the deficiency due from petitioners.

It is further stipulated that, effective upon the entry of this decision by the Court, petitioners waive the restrictions contained in I.R.C. § 6213(a) prohibiting assessment and collection of the deficiency (plus statutory interest) until the decision of the Tax Court becomes final.

WILLIAM M. PAUL
Acting Chief Counsel
Internal Revenue Service

William F. Colgin, Jr.
Counsel for Petitioner
Holland & Hart LLP
Tax Court Bar No. CW0636
645 South Cache Street, Suite 100
P.O. Box 68
Jackson, WY 83001
Telephone: (307) 734-4510
Facsimile: (844) 473-4724
WFColgin@HollandHart.com

Date: October 27, 2021

Donald K. Rogers
Counsel for Respondent
Associate Area Counsel
Large Business & International
Tax Court Bar No. RD0410
550 Main Street, Suite 9-351
Cincinnati, OH 45202
Telephone: (513) 975-6860
Donald.K.Rogers@irscounsel.treas.gov

Date: October 28, 2021

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