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IRS Contractor Finds Own Tax Accounting Problems

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By Allan Holmes June 1, 2007

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In what has been characterized as an ironic twist, Computer Sciences Corp., the prime contractor working on modernizing the IRS’ computer systems, announced yesterday that it had found "significant errors" in its own tax accounting over a period from 2000 to 2006, according to a Forbes report. CSC will take a $300 million to $400 million charge to fix the problem. CSC’s stock dropped 2.3 percent on the news.

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