Friday, September 4, 2009

IRS tax claim against Nortel

In previous management teams, Nortel would meet with IRS representatives to review the tax payments and transfers between business units in multiple countries. Most previous claims by the IRS were worked out in this manner so that the impact on Nortel was fair and reasonable.

At this stage in Nortel's life, there may be few people left who can complete such complicated discussions and speak with authority about the decisions and actions taken to ensure that taxes were calculated and paid properly.

Let's hope that there are a few left and that they get all the support that they need from current and former management to explain the discrepancies. The executives who fled the sinking ship should be required to provide their reasoning and actions that has led to this deplorable situation.

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