Interest reviews offer low risk/high reward opportunities for companies

Many companies either have paid the Internal Revenue Service (IRS) considerably more interest than they actually owed or have received less allowable interest than they were entitled to, due primarily to incorrect IRS calculations. The good news is that significant refund opportunities may exist for companies that find themselves in this situation. The bad news is that most companies do not have the internal resources needed to review complex interest computations, identify and correct errors, and obtain refunds.The following article, developed by PwC's Managing Accounts team, describes the most common IRS errors and how taxpayers can take advantage of the resulting refund opportunities.

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