Altera: An ‘arm’s length result is not simply any result that maximizes one’s tax obligations’
In a double take two-to-one decision because of a withdrawn decision due to the death of a judge, a Ninth Circuit panel in Altera reversed a unanimous en banc decision of the Tax Court that the qualified cost sharing arrangements (QCSA) regulations[1] were invalid under the Administrative Procedure Act.[2] The renown Professor Calvin Johnson (Texas) and I shared comments on this case. Professor Johnson’s…