AT&T Inc. has agreed to pay the Internal Revenue Service a huge settlement related to deductions from 2008 and 2009. The two parties reached the settlement earlier this week, according to a regulatory filing with the Securities and Exchange Commission.
AT&T will pay the IRS $300 million during the fourth quarter of 2010. This payment settles a dispute over certain disallowed deductions taken in 2008 and 2009 related to a restructuring of the company’s wireless operations.
Dallas-based AT&T (NYSE: T) is a communications holding company. AT&T has wireline and wireless operations in San Antonio.