Zimmer Protests $79M IRS Transfer Pricing Assessment

Law360, Washington (August 18, 2014, 5:20 PM ET) — Medical device manufacturer Zimmer Holdings Inc. is protesting a $79 million Internal Revenue Service assessment arising from transfer pricing adjustments that the agency made on transactions, including licensing agreements, between itself and a Dutch subsidiary, according to court records made public on Monday.

The company filed a petition in U.S. Tax Court seeking a reversal of the adjustments, which it learned about in a May notice of deficiency. The deficiencies included a $709,878 shortfall for the tax year ending Dec. 31, 2005, a $40.5 million deficiency…