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>> INTERNAL REVENUE SERVICE Latest News

JUL 02, 2013 - Yahoo! News

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IRS claim against Tyco may force former units to contribute to tax bill

(Reuters) - Security services provider ADT Corp said it may have to contribute to a tax bill faced by former parent Tyco International Ltd if the total amount assessed by the IRS exceeded $1.85 billion. Tyco said on Monday it had received a notice from the U.S. Internal Revenue Service stating that several of the company's former units, including ADT, owed taxes of $883.3 million and penalties of $154.0 million for tax years from 1997 to 2000. (http://r.reuters.com/nyr39t) Tyco said four former subsidiaries would contribute to paying the liabilities under tax-sharing agreements. ...

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