Microsoft $MSFT is now accused of tax evasion and faces a $29 Billion tax bill from the IRS. This is one of the largest tax bills ever issued by the IRS.

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by TonyLiberty

Microsoft is now accused of tax evasion and faces a $29 Billion tax bill from the IRS. This is one of the largest tax bills ever issued by the IRS.

In particular, the IRS took issue with how the company “allocated profits … among countries and jurisdictions.” This suggests that the IRS believes that Microsoft was shifting profits to lower-tax jurisdictions in order to avoid paying taxes in the United States.

$MSFT reports that it has paid over $67 billion in taxes to the U.S. government since 2004.

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This case against Microsoft is a reminder that the IRS is serious about enforcing the tax code.

Read more here: https://www.reuters.com/technology/microsoft-receives-tax-notice-irs-2023-10-11/