The executive stock option settlement initiative launched in February has received a strong turnout, according to the Internal Revenue Service. The initiative provided corporate executives and their companies a means to resolve an abusive tax transaction involving the transfer of stock options to family controlled partnerships.

"When we announced this initiative in February, we wanted to give corporations and executives a chance to turn the page and make things right," said IRS Commissioner Mark W. Everson. "The vast majority of those involved chose to come forward under the settlement's tough terms. The response reflects higher standards for corporate governance and less tolerance for abusive tax transactions."

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