Upper Deck Working Towards Settlement With IRS

Court documents published on February 9, 2016 suggest Upper Deck and the IRS are working towards a settlement. 

You can view documents from the case on the United States Tax Court website. One of the more eye opening ones is from July 2013 which suggests Upper Deck owes millions to the IRS. 

Any kind of settlement in the current US Tax Court case would be positive for Upper Deck and would likely mean they would pay a fraction of the total amount owed. 

The more you know:

This isn’t the only battle Upper Deck has had with the tax courts. In 2008 they reportedly paid out over $97 million to settle an improper tax shelter devised by KPMG.

Recent Company Timeline

  • August 6, 2009: Lost MLB License
  • January 10, 2010: US District Court judge rules that Upper Deck counterfeited Yu-Gi-Oh! cards. Anime News Network
  • February 1, 2010: MLB files federal lawsuit against UD. NY Daily News
  • April 7, 2010: Lost NFL License
  • February 14, 2012: Upper Deck International declared bankrupt
  • March 23, 2012: NFLPA sues Upper Deck. Beckett
  • January 8, 2015: Lost CLC License

I'd be very careful buying any current products by Upper Deck. If you have a store in Canada you should still carry their NHL sets. But please stay away from anything high end at the moment. The reasons for this should be painfully obvious. They owe the IRS millions guys.

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