Alliance Semiconductor Concludes Settlement with Internal Revenue Service
February 11 2008 - 4:05PM
Business Wire
Alliance Semiconductor Corporation (Pink Sheets: ALSC) announced
today that final decision documents filed�with the United States
Tax Court�have been signed and entered by the judge,
concluding�Alliance's dispute with the Internal Revenue Service�in
accordance with the terms of the Stipulation of Settled Issues
previously filed with the�Tax�Court and described in Form 8-Ks
filed on July 6, 2007 and January 10, 2008. Pursuant to the
decision documents, Alliance will receive a tax refund of
$6,641,660, plus interest, for the 2001 tax year. As previously
announced, as a result of the settlement no additional taxes will
be owed by Alliance for its taxable years 1999 through 2002, but
Alliance�s net operating losses will be reduced.
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