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): August 1, 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 1.01 | Entry Into a Material Definitive Agreement |
On June 30, 2008, IDT Corporation (the “Registrant”) disclosed that, after discussions with the IRS, the Registrant received notices of Income Tax Examination Changes from the IRS (the “Notices”) claiming that, for the period covered by the review, 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. As we noted then, these amounts do not include applicable interest.
On Friday August 1, 2008, the Registrant signed the Notices acknowledging the IRS’ determinations and the Notices have been countersigned by the IRS. In connection therewith, the Registrant paid $10 million of the amount noted. The Registrant has not yet received the IRS’ determination of the amount of interest owed and has entered into discussions with the IRS regarding the timing of payment.
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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: August 6, 2008 | ||||||
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