IRS hits taxpayer with $3 billion claim
September 08, 2009
The US tax authorities have unsettled creditors of bankrupt telecommunications equipment provider, Nortel, by submitting a $3 billion claim for back taxes, interest and other penalties
Details of the claim are yet to be revealed but it has been suggested the IRS may be challenging an aspect of the transfer pricing policy used by Nortel when shifting resources from one company unit to another.
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