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Tarrant Apparel Group will settle with the IRS for a sum of $14 million for back taxes, penalties and interested owed over a seven year period ending in 2002. The agreement is for Tarrant Apparel Group to pay $4 million immediately and $250,000 per month until the debt is settled.

Tarrant Apparel Group is a private label apparel producer based out of California responsible for such private labels fashion lines by Chicos, Dillards, Federated Department Stores, J.C. Penny, K-Mart, Kohl’s, Lerner New York, Sears, Mervyn’s, Lane Bryant, Mother Works and Walmart.

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