IHOP Reaches Deal With IRS to Cut Tax Bill

IHOP Corp. said the Internal Revenue Service would let it write down the value of assets more quickly, reducing the company’s tax bill for this year.

The agreement will result in a $14.7-million increase in cash flow in the third and fourth quarters, although it will have no effect on net income, the Glendale-based restaurant chain said.

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Walt Disney World in Orlando, Fla., is raising the price of a one-day, one-park ticket by $4 to $67, the second price increase this year.