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In a unanimous opinion, the US Supreme Court agreed with the government in Polselli v. Internal Revenue Service that the Internal Revenue Service (IRS) can issue a summons to obtain information.
On May 23 the Tax Court ordered Medtronic and the IRS to file a stipulated decision stating that the resolution of Medtronic's transfer pricing case does not preclude Medtronic from seeking future foreign tax credits.
The Supreme Court ruled Thursday the IRS did not have to give a delinquent taxpayer's wife and law firm notice that it had summoned bank records linked to the man in an attempt to uncover and collect his assets.