First Data Corporation

First Data Corporation - New York Times - DealBook

The federal government is widening its investigation of offshore tax evasion to include services sold by the First Data Corporation, a large processor of credit card transactions, The New York Times's Lynnley Browning reported. As part of the inquiry, the Internal Revenue Service asked a Federal District Court in Denver on Wednesday to order First Data to turn over account information on scores of merchants that sell or provide offshore services, like financial transactions processing. The summons, if approved by a federal judge, would compel First Data to identify American clients who, through credit cards, debit cards and other financial processing arrangements, "may have diverted unreported income offshore or received unreported income from undisclosed offshore sources or have taken improper deductions or credits or have failed to withhold tax on certain payments made offshore," all going back to 2002. 

First Data Corporation - Rick Konrad at Value Discipline

Companies like First Data ( FDC ) and Alliance Data ( ADS ) have already been chased down by private equity. By the way, I continue to believe that private equity deals will continue to be part of our investment scenario for at least the next year. In the business services I like Global Payments ( GPN ) and Total System Services ( TSS ).