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5th Circ. Reverses Poultry Co.'s $30M Tax Deficiency - The Fifth Circuit on Wednesday handed a major victory to poultry production giant Pilgrim's Pride Corp., reversing a U.S. Tax Court decision that asserted the company owed $29.7 million in deficient taxes due to falsely claiming an ordinary loss after abandoning $98.6 million in securities.

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Read more at: Tax Times blog

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