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October 12, 2023 at 7:45 pm

Microsoft Must Pay $28.9 Billion in Back-Taxes…

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by ZeroHedge News Staff at ZeroHedge

“That’s a nice little business you got there, it would be a pity if the IRS confiscated it…”

In an 8K filed by Microsoft after the close, the company said it received notices from IRS seeking additional payment of $28.9b plus penalties and interest for the tax years 2004-2013; the payments stem from disagreements over the tax treatment of intercompany transfer pricing, a well-known corporate tax black hole.

It was not immediately clear if these notices suggested the company had underpaid taxes on purpose or if there was a TurboTax-style glitch, but whatever the reason, $29 billion is a lot of money, even for Epstein island regulars such as Bill Gates.

Naturally, Microsoft said that it disagrees with the notices and will vigorously contest them, and “does not expect” a final resolution on these issues in the next 12 months:…

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