Tag Archives: taxes

Nortel Going to Court over Taxes

By Mark Evans | Published: September 30, 2009
Faced with a $3-billion tax billion from the U.S. Internal Revenue Agency, Nortel has been told that it must prepare for a court date on Oct. 13 – yet another reason for Nortel’s lawyers to pick up some more fees. According to Bloomberg News, U.S. Bankruptcy Judge Kevin Gross has ordered the two two sides [...]
Posted in Financials | Also tagged , , | 45 Comments

Nortel: We Owe the IRS Nothing

By Mark Evans | Published: September 16, 2009
After being hit with a $3-billion tax bill from the Internal Revenue Service last month, Nortel has fired back in a court filing, claiming there “is no reasonable or realistic basis for the IRS claim”. “The IRS overstates the amount of income of the NNI Filing Group that could be subject to US federal income [...]
Posted in Financials, Legal Issues | Also tagged , | 30 Comments

Nortel: Your Tax Tab is $3-Billion

By Mark Evans | Published: August 28, 2009
Just when you thought the Nortel soap opera couldn’t get more bizarre, it takes another fascinating twist as the Internal Revenue Agency has hit it with a $3-billion claim for back taxes, interest and other penalties. The IRS’ claim comes a month before the Sept. 30 deadline for filing claims. According to the Ottawa Citizen, [...]
Posted in Financials | Also tagged , , , | 31 Comments
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