The best the retailer can hope for is another appealable ruling from the trial court, perhaps on whether former employees can join the class.

FORBES: Wal-Mart May Find A Tough Sale At Supreme Court

Thus, IRS will continue to argue in appropriate cases, including those appealable to the Ninth Circuit, that the gross valuation misstatement penalty applies if an overvaluation is an integral part of a transaction, regardless of the grounds for disallowance of the related deduction or credit.

FORBES: IRS Wants More Penalties