Justices Will Review Rail Stock-Options Tax Case – Law360

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Law360, Los Angeles (January 12, 2018, 3:24 PM EST) — The U.S. Supreme Court on Friday said it will review a Seventh Circuit decision that found income from $13.3 million in stock options given to employees of a Canadian railroad company was taxable compensation.

Both the U.S. government and subsidiaries of the Canadian National Railway Co. asked the high court to review the Seventh Circuit’s May decision. The U.S. said the appeals court arrived at the correct conclusion that income from the options should be taxable whether considered under the Federal Insurance Contributions Act or the…