A judge ruled on a Storage Technology tax dispute.
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Judge Roland J. Brumbaugh sharply criticized the Internal Revenue Service’s audit of Storage Technology and ordered the IRS to refigure its estimate that the computer equipment maker owes $640 million in back taxes. The Louisville, Colo.-based firm claims it owes just $3 million. Brumbaugh complained that the IRS sent “inexperienced, untrained and unknowledgeable agents” to perform what he called an “incompetent audit.” Storage filed for Chapter 11 reorganization two years ago, and a hearing is set for next week on its proposed reorganization plan.
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