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To: Jim McMannis who wrote (168043)7/12/2002 10:45:18 AM
From: L. Adam Latham  Respond to of 186894
 
Jim:

Re: A marvelous question indeed! I suppose they can file an amended return and get money back.

Remember that the IRS doesn't care how you or a company makes its profits, legal or illegal - they just want their share. That's how the IRS got Al Capone - he failed to pay taxes on his illegal income. So even if a company or its officers did something illegal to inflate revenues and/or profits, they should get a refund if they restate results.

Adam


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