February 15, 2018 / 6:46 PM / 6 months ago

BRIEF-Caterpillar Says "Vigorously Contesting" Proposed IRS Penalties

Feb 15 (Reuters) - Caterpillar Inc:

* CATERPILLAR SAYS ON JAN. 31, GOT REVENUE AGENT'S REPORT FROM IRS INDICATING END OF FIELD EXAM OF U.S. INCOME TAX RETURNS FOR 2010-2012 - SEC FILING

* CATERPILLAR - IN 2007-2012 AUDITS INCLUDING IMPACT OF LOSS CARRYBACK TO 2005, IRS PROPOSED TO TAX IN U.S. PROFITS EARNED FROM CERTAIN PARTS TRANSACTIONS BY CSARL

* CATERPILLAR - "VIGOROUSLY CONTESTING" PROPOSED INCREASES TO TAX AND PENALTIES FOR AUDIT PERIOD OF ABOUT $2.3 BILLION

* CATERPILLAR SAYS DO NOT ANTICIPATE A SIGNIFICANT INCREASE OR DECREASE TO CO'S UNRECOGNIZED TAX BENEFITS FOR THE IRS AUDIT WITHIN THE NEXT 12 MONTHS

* CATERPILLAR SAYS CURRENTLY BELIEVE ULTIMATE DISPOSITION OF THE IRS AUDIT WILL NOT HAVE MATERIAL ADVERSE EFFECT ON CO'S CONSOLIDATED FINANCIAL POSITION Source text: (bit.ly/2C1fxv0) Further company coverage:

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