Content about U.S. Internal Revenue Service

April 1, 2011

Office Depot said it will restate its finances for the second and third quarters of fiscal 2010 as well as for the full fiscal year.

Boca Raton, Fla. -- Office Depot said it will restate its finances for the second and third quarters of fiscal 2010 as well as for the full fiscal year. The company said the U.S. Internal Revenue Service denied its claim for an $80 million benefit related to taxes.

The removal of the benefit, which had already been recorded in financial statements, will result in a loss for 2010 of $46 million. Previously the company said it earned $33 million.