A federal judge ruled that the Internal Revenue Service cannot collect more than $500 million of taxes, penalties and interest it was seeking from NetJets Inc., in a dispute related to excise taxes, Reuters reported.

The judge also rejected a NetJets claim that it deserved a $219.5 million refund plus interest on taxes it already paid, Retuers reported.

Full story at http://www.reuters.com/article/2015/01/27/berkshire-netjets-tax-decision-idUSL1N0V611Z20150127

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