International Paper said in its regulatory document on September 9 local time that it had reached a settlement with the IRS on the tax dispute over the timber monetization reorganization that began in 2015, and “will thoroughly solve this problem”.

International Paper needs to pay about $260 million in federal income tax according to the agreement reached on September 2. At the end of the audit, interest will also be included, and the interest expense recognized by September 30 is expected to be about $50 million.