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INCOME TAXES Footnote
 9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes [Note Text Block]
NOTE 11 - INCOME TAXES

International Paper made income tax payments, net of refunds, of $122 million and $68 million for the nine months ended September 30, 2017 and 2016, respectively.

The following table presents a rollforward of unrecognized tax benefits and related accrued estimated interest and penalties for the nine months ended September 30, 2017: 
In millions
Unrecognized
Tax Benefits
 
Accrued Estimated
Interest and Tax
Penalties
Balance at December 31, 2016
$
(98
)
 
$
(22
)
Activity for three months ended March 31, 2017
(2
)
 
2

Activity for the three months ended June 30, 2017
(42
)
 
1

Activity for the three months ended September 30, 2017
1

 
—

Balance at September 30, 2017
$
(141
)
 
$
(19
)


The Company currently estimates, that as a result of ongoing discussions, pending tax settlements and expirations of statutes of limitations, the amount of unrecognized tax benefits could be reduced by approximately $4 million during the next 12 months.
International Paper uses the flow-through method to account for investment tax credits earned on eligible open loop-biomass facilities and Combined Heat and Power system expenditures. Under this method, the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis. The Company recorded a tax benefit of $29 million in the third quarter related to Investment Tax Credits earned in tax years 2016-2017.