Fluor Corp. v. United States

OPINION

MARGOLIS, Judge.

This federal income tax case is before the court on plaintiffs motion for summary judgment and defendant’s cross motion for partial summary judgment. The question is whether a foreign tax credit carryback to an earlier tax year which eliminates a tax underpayment for that earlier year also results in an elimination of interest on the underpayment, as plaintiff maintains, or whether plaintiff must pay deficiency interest from the due date of the underpayment-year tax return to the due date of the carryback generating-year tax return, as defendant claims. After careful…