UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 19, 2008
IDT CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 1-16371 | 22-3415036 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
520 Broad Street Newark, New Jersey | 07102 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (973) 438-1000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events |
In previous SEC filings, IDT Corporation (the “Registrant”) disclosed that the Internal Revenue Service (the “IRS”) had commenced an audit of the Registrant covering fiscal years 2001-2004 (the “IRS Review Period”). The Registrant also disclosed that management established tax reserves of $132 million representing its best estimate of additional amounts of taxes and interest the Registrant could be required to pay.
On June 19, 2008, after discussions with the IRS, the Registrant received notices of Income Tax Examination Changes from the IRS claiming that, for the IRS Review Period, the Registrant owed approximately $75 million in taxes for the period ending July 31, 2001 and approximately $1.0 million for adjustments carried forward to the years 2005 and 2006. These amounts do not include applicable interest.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IDT CORPORATION | ||
By: | /s/ James A. Courter | |
Name: | James A. Courter | |
Title: | Chief Executive Officer | |
Dated: June 30, 2008
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