Liberty Global Wins Significant Victory in Tax Case

On behalf of Liberty Global, Inc., Skadden successfully challenged the validity of regulations issued under Section 245A of the Internal Revenue Code, a statute added as part of the 2017 tax reform act. The decision by the U.S. District Court for the District of Colorado strikes down the regulations and holds that they are legally unenforceable. This issue of first impression directly affects the tax reporting of numerous foreign multinational corporations.