Posted on 10/14/2023 7:07:15 AM PDT by Twotone
Microsoft plans to contest a US Internal Revenue Service request for an additional $28.9 billion in back taxes for the years 2004 to 2013, the company said in a securities filing Wednesday.
The demand is the result of a yearslong audit by the IRS into Microsoft’s past accounting practices. In particular, the agency took issue with how the company “allocated profits … among countries and jurisdictions,” Microsoft said in the filing.
“The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest,” the company said. It noted that the IRS’s determination is not final and does not include up to $10 billion in taxes Microsoft paid under the 2017 Tax Cuts and Jobs Act that could reduce its final bill.
The company said it plans to appeal the IRS request, a process that will likely take several years.
(Excerpt) Read more at cnn.com ...
Must have forgot the bribes necessary to do business ?
I’m not usually on the side of the IRS, but in this case, I may make an exception…
That’s a shame.
Does the IRS really make ‘requests’? I thought they were in the habit of demanding.
I hope their accounting firm has very, very good insurance.
They’ve got 104 billion in cash and short-term investments, so I think they’ll manage.
There goes all the support for Windows.
Sounds like about a billion dollars of litigation coming right up. Lawyers are rubbing their hands with glee.
9 years as the most recent? Is that why it is a request?
Obviously incompetence is not the answer.
Ignorance speaking here, how can they go back to 2004? FWIW, happy to see these guys pay...Harvard and Stanford next (yes, I know, they are exempt, but I am a huge fan of taxing their endowments!).
Request? How about a seizure?
Last I heard the IRS was paying MS to upgrade XP for IRS computers (that was a while ago), so MS should with hold support. I’d like to see a Lose Lose in this case.
Probably neglected the golden rule of 10% to the big guy.
Inspired by Xi crushing AliBaba Holdings, perhaps. They say its because Jack Ma needed some re-education, but they went about by appropriating most of the company’s profits.
“Must have forgot the bribes necessary to do business ?”
Exactly. The Biden crime syndicate did not get their 10%.
There goes all the support for Windows.
Windows has support ?
And the appeal is going to take years. Basically they’re gonna sock some money into something with a good yield and 6 years from now them and the IRS will “settle” for that interest.
Yeah there is something unknown to us here. A 9 year lookback. The rats didn’t get enough tribute or this could be about 24.
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