IRS settles with Citrix Systems for $66 million less than expected
July 06, 2010
Citrix Systems, a provider of IT solutions, has announced it has settled with the IRS in the range of $12 million to $15 million over disputes about transfer pricing and intellectual property transfers.
The company had previously reported during the third quarter of 2009 that the Internal Revenue Service (IRS) had concluded an examination of the company’s income tax returns for 2004 and 2005 and issued a Revenue Agent’s Report (RAR). The RAR asserted underpayment of income tax of about $81.3 million for tax years 2004 and 2005.
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