Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.
Microsoft Corp. MSFT, +1.23% on Wednesday said it has received a notice from the Internal Revenue Service that it owes $28.9 billion in back taxes plus interest and fines for the tax years 2004 to 2013.
“As of September 30, 2023, we believe our allowances for income tax contingencies are adequate,” Microsoft MSFT, +1.23% said in an 8-K filing. The software giant said it received the notice on Sept. 26. “We disagree with the proposed adjustments and will vigorously contest the NOPAs through the IRS’s administrative appeals office and, if necessary, judicial proceedings,” added Microsoft, which does not expect a final decision on the matter in the next 12 months.
Regardless, the company does not expect a “significant” increase or decrease in its tax implications over the same time frame.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
IRS says Microsoft owes an additional $29 billion in back taxesMicrosoft received Notices of Proposed Adjustment from the IRS for an additional tax payment of $28.9 billion, the company announced in an 8K filing Wednesday.…
Les mer »
This Amazon October Prime Day 2023 deal will help you kill mosquitoes and flies in your homeThis October Amazon Prime Day deal can help eliminate bugs in your home for just $29.
Les mer »
This ultra-durable 2TB portable SSD is $29 off for Prime DayThis Prime Day deal offers 2TB of super speedy external SSD storage space as well as $29 in savings.
Les mer »
Crest 3D Whitestrips at $29 might be one of the best Prime Big Deal Days dealsOne of the most popular products to fly off the digital shelves during Prime Day is back on sale for Prime Big Deal Days.
Les mer »
Microsoft announces new AI tools to help doctors deliver better careMicrosoft introduced new solutions in Microsoft Fabric and Azure AI at the HLTH conference.
Les mer »
Democratic senators tell IRS to speed up crypto tax reporting rulesA group of senators urged the Treasury Department to implement tax reporting requirements for crypto brokers “as rapidly as possible.”
Les mer »