Item 8.01 Other Events.

On September 2, 2022, International Paper Company (the "Company") and the Internal Revenue Service agreed to settle the previously disclosed 2015 timber monetization restructuring tax matter. See Note 16- Variable Interest Entities to the unaudited condensed financial statements in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022. Under this agreement, the Company will fully resolve the matter and pay approximately $260 million in federal income taxes. As a result, interest will also be charged upon closing of the audit. The amount of interest expense estimated to be recognized through September 30, 2022 is approximately $50 million.


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