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Civil Plaintiff

$740 Million Payment Ends 15 Year Tax Dispute
Between the IRS and Caterpillar

 Caterpillar Inc., one of the world’s largest machinery producers, has struck a deal with US tax authorities to end a dispute that stretches back to 2007.

“The company reached a settlement with the US Internal Revenue Service that resolves all issues for tax years 2007 through 2016, without any penalties,” Caterpillar said Thursday in its earnings statement. “The settlement was within the total amount of gross unrecognized tax benefits for uncertain tax positions and enables us to avoid the costs and burdens of further disputes with the IRS.”

The US machinery maker said it’s $490 million in taxes for those years and $250 million in interest, according to its earnings statement released Thursday. The $740 million sum is far less than the $2.3 billion the company had been disputing for years.

Read the source at Yahoo Finance

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