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Title: IRS (Internal Revenue Service) claim against oil firms heads for a court showdown

Abstract

During the gasoline crisis of the late Seventies, Saudi Arabia pumped oil to four U.S. oil companies at a price mutually agreed on. But the Internal Revenue Service says the companies sold the oil at a higher rate, raking in profits that they must pay taxes on. Exxon and Texaco dispute the ruling, while the other companies are being audited. The Tax Court is scheduled to try the case April of 1991.

Publication Date:
OSTI Identifier:
6348092
Resource Type:
Journal Article
Journal Name:
Insight; (USA)
Additional Journal Information:
Journal Volume: 6:39; Journal ID: ISSN 0884-9285
Country of Publication:
United States
Language:
English
Subject:
01 COAL, LIGNITE, AND PEAT; 29 ENERGY PLANNING, POLICY AND ECONOMY; PETROLEUM; PRICING REGULATIONS; PETROLEUM INDUSTRY; LAWSUITS; AUDITS; SAUDI ARABIA; TAXES; US IRS; WINDFALL PROFITS TAX; ASIA; ENERGY SOURCES; FOSSIL FUELS; FUELS; INDUSTRY; NATIONAL ORGANIZATIONS; REGULATIONS; US DEPARTMENT OF TREASURY; US ORGANIZATIONS; 017000* - Coal, Lignite, & Peat- Legislation & Regulations; 290200 - Energy Planning & Policy- Economics & Sociology

Citation Formats

. IRS (Internal Revenue Service) claim against oil firms heads for a court showdown. United States: N. p., 1990. Web.
. IRS (Internal Revenue Service) claim against oil firms heads for a court showdown. United States.
. 1990. "IRS (Internal Revenue Service) claim against oil firms heads for a court showdown". United States.
@article{osti_6348092,
title = {IRS (Internal Revenue Service) claim against oil firms heads for a court showdown},
author = {},
abstractNote = {During the gasoline crisis of the late Seventies, Saudi Arabia pumped oil to four U.S. oil companies at a price mutually agreed on. But the Internal Revenue Service says the companies sold the oil at a higher rate, raking in profits that they must pay taxes on. Exxon and Texaco dispute the ruling, while the other companies are being audited. The Tax Court is scheduled to try the case April of 1991.},
doi = {},
url = {https://www.osti.gov/biblio/6348092}, journal = {Insight; (USA)},
issn = {0884-9285},
number = ,
volume = 6:39,
place = {United States},
year = {Mon Sep 24 00:00:00 EDT 1990},
month = {Mon Sep 24 00:00:00 EDT 1990}
}