• Starwood receives $245m tax refund

Starwood Hotels and Resorts Worldwide has received a $245m tax refund from the IRS.

The payment dates back to the 1998 disposition of World Directories. The IRS had disputed the company’s tax treatment of the disposition and the case went to federal tax court before the two sides agreed to settle in October.

See the full release here:
http://www.starwoodhotels.com/corporate/news.html

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