April 17, 2024


New York
CNN
 — 

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.

“We believe we have always followed the IRS’s rules and paid the taxes we owe in the U.S. and around the world,” the company said in the filing. “Since 2004, we have paid over $67 billion in taxes to the U.S.”

Microsoft noted that as it prepares to work through the IRS Appeals Process — and, potentially, the courts — the company believes its current “allowances for income tax contingencies are adequate.”

litmatch make new friends apps on google play
gift code myths of moonrise january 2023 youtube
pull the pin mod apk 0 138 1 unlocked happymod
dragon age senior creative director leaves bioware vapeone uk
new method dice dreams hack cheats free rolls mod generator
how to get free gems cash fast in project makeover reddit
download beach buggy racing 2023 01 11 apk mod free 5play
Free TikTok Coins: The Holy Grail of Success
Gewinnen von Kostenlosen Münzen: TikTok-Herausforderungen und Belohnungen
Coin Master Free Spins Myths and Facts: Unraveled
Unlocking Avacoins in Avakin Life: Insider Techniques
Bingo Blitz Credits Hack: Expert Recommendations
Free Spins in Coin Master: Your Ticket to Village Domination
how to claim free primogems from game awards 2022 reward
ZEPETO Zems Farming Strategies: Success Tips
match masters free coins archives smartphoneprice com
Free TikTok Coins: Your Ticket to Stardom
Unlocking Gems in Brawl Stars: Insider Techniques
dragon city hack cheats generator for free gems 2023
family island free rubies familyislandgame tiktok
hay day free diamonds generator without human verification
litmatch make new friends apps on google play
myths of moonrise codes wiki 2022 september theclashify
download pin rescue mod v2 0 4 unlimited money for android
evony the king s return hack free gems safe method
dice dreams free rolls generator online 2 may 2022
project makeover mod apk v2 50 1 unlimited money apkloo
beach buggy racing mod apk v2023 01 11 unlimited money
Free TikTok Coins: The Game Changer
Ganando Monedas Gratis: Desafíos y Recompensas en TikTok

Leave a Reply

Your email address will not be published. Required fields are marked *