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Bell Atlantic lost a $77 million battle with Uncle Sam, now that a federal appeals court ruled that the Baby Bell was not entitled to a refund under a capital investment tax credit in the Tax Reform Act of 1986. Bell Atlantic claimed it was entitled to an income tax credit for hundreds of millions of dollars of property. But the 3rd U.S. Circuit Court of Appeals sided with the government.
August 22, 2000 at 12:00 AM
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The original version of this story was published on Law.Com
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