Caterpillar Settles With IRS Over Long-Disputed Tax Case (1)

Caterpillar Inc., one of the world’s largest machinery producers, reached a civil settlement with the US Internal Revenue Service over a dispute of more than $2 billion that the government said it owed in taxes and penalties.

The company said it reached the settlement for the tax years of 2007 through 2016 without any penalties, but did not disclose how much it actually paid to the government. A quarterly filing by Caterpillar last month said it was “vigorously contesting” proposed increases to tax and penalties for the years of 2007 to 2012 of about $2.3 billion.

“We vigorously contested ...