Tags: AT&T | Gain | Settles | IRS

AT&T Books $8.3 Billion Gain, Settles With IRS

Monday, 04 Oct 2010 03:06 PM

AT&T Inc. is booking a $8.3 billion gain in its third quarter to cover depreciation of wireless assets, under terms of a settlement with the Internal Revenue Service.

AT&T said in a regulatory filing Friday that it is recording the $1.40-per-share gain as a reduction in tax liabilities. The company said it will book the cash flow impact over a 15-year period beginning in 2008.

The Dallas-based phone company also is paying the IRS $300 million in the fourth quarter to settle issues with company's 2008 federal tax return. The payment covers certain disallowed deductions taken in 2008 and 2009.

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AT T Inc. is booking a $8.3 billion gain in its third quarter to cover depreciation of wireless assets, under terms of a settlement with the Internal Revenue Service. AT T said in a regulatory filing Friday that it is recording the $1.40-per-share gain as a reduction in...
AT&T,Gain,Settles,IRS
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2010-06-04
Monday, 04 Oct 2010 03:06 PM
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