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UI Professor Referenced In Tax Study

Hundreds of companies could be on the hook to the Internal Revenue Service and other authorities for tens of billions of dollars in back taxes due to transactions they believe could be challenged, newly required regulatory disclosures show. A new rule, known as FIN 48, forces companies to better disclose how much they have set aside, or reserved for financial-reporting purposes, to pay governments in case tax-saving transactions are successfully challenged by taxing authorities. A coming study by four accounting professors -- Jennifer Blouin of the University of Pennsylvania, CRISTI GLEASON of the University of Iowa, and the University of Texas' Lillian Mills and Stephanie Sikes -- examined the newly disclosed tax liabilities at 100 large companies and compared those with their book assets.

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