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Actionable news in ASFI: Asta Funding, Inc.,

Asta: Other Events

The following excerpt is from the company's SEC filing.

On July 16, 2015, Asta Funding, Inc. (the Company) made a payment to the Internal Revenue Service (IRS) of approximately $13.0 million in anticipation of the conclusion of the examination by the IRS and in accordance with their notice of proposed adjustment, for the fiscal tax years ended September 30, 2009 through September 30, 2013. The adjustment is the result of a change in the accounting method used for income recognition for income tax purposes. Apart from the change in accounting method for income tax purposes, there were no other material disallowances or adjustments to other items of income, deduction s, and credits to the tax returns...