Strategic Hous. Fin. Corp. of Travis County v. US
Strategic Hous....(U.S. Fed. Cir., Administrative Law, Civil Procedure, Government Law, Tax Law) In plaintiff’s suit against the U.S. to recover its arbitrage rebate, the order of the U.S. Court of Federal Claims (CFC) dismissing the suit for lack of jurisdiction under I.R.C. section 7422(a) is affirmed as section 7422(a) prohibits a court from asserting jurisdiction to hear a bond issuer’s claim to recover an arbitrage rebate when the issuer failed to first seek an administrative refund from the IRS. However, the portion of the CFC’s judgment regarding whether I.R.C. section 148(f)(3) grants the Secretary of the Treasury unfettered discretion to accelerate an arbitrage rebate is vacated as the court should not have conducted an APA analysis after recognizing that it lacked jurisdiction.
