Continuation of the Sample Minimum Refund ReportFirst paragraph of template - Taxpayer HistoryThe taxpayer was incorporated on January 1,1950, and is engaged in the business of operating a steel mill. The net operating losses were due primarily to high interest expense deductions, the write-off of capitalized debt costs subject to amortization due to refinancing required by the merger, and charges related to the restructuring of the mill system, closings of duplicate location facilities, abandonments, severance costs and litigation settlements.Second paragraph of template - Prior Examination ActivityTax year 201512 was not previously examined.Third paragraph of template - Current Examination ActivityOn November 15, 2018, the taxpayer filed a timely amended return (Form 1120X) requesting the income tax refund of $30,000,000, for tax year 201512 based on an NOL carry back from 201712. The return was not processed by the IRS but was considered in this audit report.Fourth paragraph of template - Continuation of Current Examination ActivityEnclosed is the examination report dated April 16, 2020, for the year 201512.Fifth paragraph of template - Continuation of Current Examination ActivityThis is not a Large Corporate Compliance case. There is a power of attorney on file for the year covered by this report and a copy is enclosed.Sixth paragraph of template - Statutes of LimitationSummary table includes column for the Year and Original Statute or as Extended for the year 201512. Seventh paragraph of templateThe above overassessment is approved.End of Letter - ClosingSincerely, Team manager signature, Team ManagerEnclosures:Joint Committee Spreadsheet Analysis for Regular Tax, AMT & Credits, RAR dated 04/16/2020 and Forms 886-A, Power of Attorney