Project Description

Problem Statement:

A national telecom company was exiting bankruptcy and facing assessments reflective of periods of high profitability. In addition, new assets were added to the tax rolls at an inflated acquisition basis.

AT Tax was Engaged to:

Review previous reporting of assets, look for savings opportunities in the company tax accounts and assist the company through personnel transition within the Tax Department.

AT Tax Advisory’s Results:

AT Tax Advisory quickly identified areas of over-reporting of assets, established a valuation basis for the assets in place based on the statutory requirements, and negotiated value reductions for the company with various state and local entities. AT Tax Advisory reduced the assessment 80 percent over a short period of time. Previous assessments totaled over $500 million and they were reduced to below $100 million. The gross savings achieved for the company exceeded $12 million.