IRS Approves Settlement on $2 Billion Bausch Health Tax Case

The IRS is moving ahead with a settlement on a more than $2 billion tax dispute with pharmaceutical company Bausch Health over tax losses it claimed after liquidating a subsidiary in 2017, the company said in a financial filing.

The company and the IRS reached a tentative settlement in January 2023, and in February of this year Bausch “received notice from the IRS that the required approvals for the tentative settlement had been received, and that the administrative process of concluding the settlement and related audits had commenced,” Bausch Health Cos Inc. said Thursday in a quarterly corporate filing for ...