Caterpillar settles long-running tax dispute with IRS
PEORIA — Caterpillar has settled a long-running tax dispute with the Internal Revenue Service. The IRS maintained Caterpillar owes the federal government more than $2.3 billion in unpaid taxes and penalties stemming from the company’s alleged tax avoidance practice of funneling U.S. profits through the Swiss subsidiary CSARL, as of 2018. Caterpillar announced it reached a…