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Microsoft is grappling with a colossal tax bill, amounting to $28.9 billion, stemming from historical accounting practices scrutinized by the IRS. A contentious audit of almost two decades of Microsoft's tax payments focused on its accounting trick of offshoring profits to Puerto Rico.
Microsoft owes an additional $28.9 billion in unpaid taxes, penalties and interest for the years between 2004 and 2013, an Internal Revenue Service audit revealed late Tuesday.
Microsoft vows to fight after IRS slaps it with $29B tax bill - SiliconANGLE
Illustration: The Verge The Internal Revenue Service (IRS) has informed Microsoft that the company owes back taxes of $28.9 billion "plus penalties and interest" for the tax years 2004 through 2013, according to an SEC filing. Microsoft's corporate VP for worldwide tax and customs Daniel Goff responded to the audit in a blog post, and says the company has changed its corporate structure and practices since the years covered by the audit. "The issues raised by the IRS are relevant to the past but not to our current practices," Goff states. The IRS's proposed adjust...
Microsoft revealed on Wednesday that the IRS is attempting to collect $28.9 billion in back taxes but says it will appeal, a process expected to take years.