AT&T Wireless announced that, under an agreement with AT&T, the company has received $511 million resulting from a federal tax refund claim.
AT&T Wireless said the claim relates to its consolidated tax net operating loss for the tax year-ended December 31, 2002. The loss was carried back for a refund of taxes paid by AT&T, as the common parent of an affiliated group that included AT&T Wireless.
AT&T Wireless said the refund would further strengthen its balance sheet and liquidity position. Given the expedited process used to submit the refund claim, the company said the IRS could decide to audit the refund claim.
I wish we were so lucky…
