The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest.
53 minutes ago‘I don’t think I could have asked for much better’: Mayor Deegan looks back on first 100 days, ahead to challengesFILE - The Microsoft logo is pictured at the Mobile World Congress 2023 in Barcelona, Spain, on March 2, 2023. The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest, the company revealed Wednesday, Oct. 11, in a securities filing. – The Internal Revenue Service says Microsoft owes the U.S.
That figure, which Microsoft disputes, stems from a long-running IRS probe into how Microsoft allocated its profits among countries and jurisdictions in the years 2004 to 2013. Critics of that practice, known as transfer pricing, argue that companies frequently use it to minimize their tax burden by reporting lower profits in high-tax countries and higher profits in lower-tax jurisdictions.
Microsoft, which is based in Redmond, Washington, said it followed IRS rules and will appeal the decision within the agency, a process expected to take several years. The company’s shares dropped slightly in aftermarket trading, falling $1.42 to $331. Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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IRS says Microsoft may owe more than $29 billion in back taxes; Microsoft disagreesThe Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest.
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IRS tells Microsoft it owes $29 billion in back taxesMicrosoft is in a dispute with the IRS over back taxes the agency says it owes for years 2004 through 2013.
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IRS notifies Microsoft it owes an additional $29 billion in back taxesJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
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IRS says Microsoft owes an additional $29 billion in back taxesMicrosoft received Notices of Proposed Adjustment from the Internal Revenue Service for an additional tax payment of $28.9 billion, the company said in an 8K…
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IRS says Microsoft owes an additional $29 billion in back taxesMicrosoft received Notices of Proposed Adjustment from the IRS for an additional tax payment of $28.9 billion, the company announced in an 8K filing Wednesday.…
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Microsoft: IRS says it owes an additional $29 billion in back taxesJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
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