Federal Case Studies

Federal Case Studies

For-Profit Education Center

For-Profit Education Center The company is a for-profit education company traded on the NASDAQ with over $3.6 billion in revenue and approximately 44,000 employees. Current enrollment in all its subsidiaries is more than 269,000 students. It settled an audit in 2014 covering the years 2006 through 2008 with the IRS. After the completion of the audit, the company hired a Big 4 accounting firm to conduct an interest study to determine the amount of interest might available to be claimed. Shortly thereafter, the company entered into a CAP agreement with the IRS for future years. Ashland contacted the company and

Healthcare Provider

Healthcare Provider This healthcare provider is one of the nation’s largest providers of post-acute healthcare services. It provides both facility-based services and home-based services to patients in 36 states. It employs over 38,000 people and is in the S&P 400 group of companies. The company has a long history of IRS audits. In 2013, the company signed a final closing agreement with the IRS that included the years from 1994 to 2008. It had reported substantial income for the years 1994 - 2001 and substantial losses from 2002 - 2008 which resulted in loss carry backs to years 1994 -

Leading Oil & Gas Pipeline Company

Leading Oil & Gas Pipeline Company This leading oil & gas pipeline company is a US Fortune 500 company with operations in the natural gas and propane business. It has operations throughout the country including 71,000 miles of pipelines, storage facilities, retail gas stations, and convenience stores. At the time of the company’s acquisition of another large oil and gas company, the acquired company was under audit by the IRS. After the acquisition, the audit of the new subsidiary was finalized and the deficiency amount plus the interest calculated by the IRS was paid. Within two years after the payment

Multi-National Electrical Utility Company

Multi-National Electrical Utility Company This large Electrical Utility company with sales of over $17 billion and employing approximately 14,000 employees in the US and Canada needed assistance with the calculation of the correct amount of overpayment interest it received in 2016. In 2016, the company settled it’s 2006 tax year with the IRS, which resulted in a refund being paid with interest. The company believed the amount of overpayment interest was calculated incorrectly by the IRS and informally requested a recalculation by the IRS. After receiving a denial by the IRS, the company employed Ashland to conduct a Complex Interest

Large Global Chemical Company

Large Global Chemical Company This global chemical company, with over $26 billion in sales and over 52,000 employees, is one of the largest chemical companies in the world, selling its products in over 90 countries. The company had settled with the IRS for tax years 1999 through 2011. The closeout of the audits for the earlier years during this period (1999 through 2004) resulted in refunds to the company, but the settlement for the later years (2005 through 2011) resulted in deficiencies being assessed. IRS assigned different complex interest technicians to calculate the interest for the two sets of audited

Multinational Financial Services Company​

A multinational financial services company with offices in 35 countries and servicing over 70 million customers, making it one of the largest companies and banks in the world as measured by market capitalization.