Google’s Parent Could Be Big Winner in Intel Tax Dispute

Alphabet Inc., Google’s parent company, could gain at least $3.5 billion in new tax benefits if Intel Corp. succeeds in its international tax dispute with the Internal Revenue Service, an amount that exceeds Google’s entire 2015 tax cost.

The case, which the IRS appealed to the Ninth U.S. Circuit Court of Appeals last week, is being closely watched in the tech industry and elsewhere. At least 20 companies, including Microsoft Corp. and eBay Inc., have disclosed they’re monitoring the outcome of the case involving...