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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