Federal Case Study

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 the company agreed to allow Ashland to conduct an Interest Recovery Review for the company and the acquired subsidiary. Ashland requested transcripts and utilized its team of former IRS trained Complex Interest Specialists to do a comprehensive account analysis and interest study.
Although the acquired subsidiary had utilized other consulting firms to conduct interest reviews in the past, Ashland was able to identify a significant recovery for the subsidiary that was available to be claimed by the company. Ashland prepared a refund request and assisted in recouping the full amount identified.

Total interest recovered: $562,000