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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 204 / 352

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© D.L. Crumbley

Tax Issues: Freddie Mac

The company used a so-called linked swaps to shift at least $420 million into the future.

Internal report said the linked swaps had minimal business justifications other than the shifting of operating earnings.

Company’s recent disclosure: potential additional tax liability as much as $750 million, plus interest.

Source: Dawn Kopecki and J.D. Mckinnon, “IRS Probes Tax Issues at Freddie Mac,” Wall Street Journal, October 22, 2003, p.A-6.

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