BB&T Corp.'s use of an offshore-tax enterprise could cost the company nearly $1 billion.

After being challenged by the Internal Revenue Service over taxes paid between 2002 and 2007, BB&T in recent weeks agreed to pay a tax liability totaling $890 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.