Jeld-Wen Protests $64M Tax Bill, Citing Real Estate Losses

Law360, Washington (February 26, 2014, 5:35 PM EST) -- Window manufacturer Jeld-Wen Holdings Inc. recently asked the U.S. Tax Court to reverse an Internal Revenue Service finding that it owed $64 million in back taxes, saying the IRS had erred in disallowing a bad debt deduction on a failed real estate investment that cost the company more than $200 million.

In a Feb. 18 petition protesting a notice of deficiency, Jeld-Wen said the IRS had erred in determining that its taxable income for 2008 should be increased by $224 million.

The agency said Jeld-Wen’s claimed...
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