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Sprint Escapes SEC Tax Probe

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Aug 5, 2013, 9:44 AM   by Eric M. Zeman

The U.S. Securities and Exchange Commission has closed its investigation of Sprint's tax practices and will take no action against the company. The SEC launched its investigation in July 2012 and closed the probe last month. Sprint is still being targeted by New York Attorney General Eric Schneiderman, however, for what he believes is Sprint's failure to properly collect sales taxes for its wireless plans over the last seven years. The New York case is ongoing and Schneiderman is seeking $300 million in back-taxes from Sprint. Sprint denies any wrongdoing.

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