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): March 28, 2008
Microtune, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 000-31029-40 | 75-2883117 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) | ||
| 2201 10th Street, Plano, Texas | 75074 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(972) 673-1600
(Registrant’s telephone number, including area code)
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:
| ¨ | 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 8.01 Other Events.
As previously disclosed, Microtune, Inc. (the “Company”) voluntarily contacted the Internal Revenue Service of the United States Department of Treasury (the “IRS”) regarding the findings of the Audit Committee investigation into the Company’s stock option granting practices. On March 28, 2008, the Company paid the IRS approximately $150,000 upon completion of the examination by the IRS of the Company’s payroll taxes for the years 2003 through 2006 and other matters related to the Audit Committee investigation. The Company previously accrued approximately $560,000 in estimated taxes and interest relating to this issue. As a result of the completion of the IRS examination, in the first quarter of 2008, the Company will realize a benefit to operating expenses of approximately $410,000 for amounts previously accrued in excess of the amounts actually paid to the IRS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MICROTUNE, INC. | ||||||||
| Date: March 28, 2008 | By: | /s/ Jeffrey A. Kupp | ||||||
| Jeffrey A. Kupp | ||||||||
| Chief Financial Officer | ||||||||