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November 9, 2009

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IRS demands $269 mil. in taxes

Monday, June 2, 2003 | 10:11 a.m.

SANTA BARBARA, Calif. -- Tenet Healthcare Corp., the U.S. hospital company under investigation for its Medicare billing, said the Internal Revenue Service is demanding $269 million in back taxes and interest.

The IRS wants $157 million in back taxes and $112 million in interest to settle company returns for 1995, 1996 and 1997. No payment is due now, pending an appeal, the Santa Barbara, Calif-based company said in a regulatory filing.

The agency also disallowed a deduction on part of a payment Tenet made in 1994 to settle a government probe of psychiatric hospitals, which Tenet said will trim second-quarter earnings by $70 million. Tenet, which owns Lake Mead Hospital in North Las Vegas, is under investigation for its billing for the sickest patients in the government's health-insurance program for 40 million elderly and disabled people.

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