U.S. Tax Court reduces penalties against Eau Claire-based Menards
The U.S. Tax Court has reduced a penalty against Menards and its founder, John Menard of Eau Claire.
In 2005, the court agreed with the IRS that the home improvement giant should pay $5.7 million for listing taxable dividends as non-taxable salaries.
This week, the court reduced the penalty by $200,000. It agreed that Menards should get back the Medicare taxes it paid on the disputed salaries.