The IRS says Microsoft owes $29 billion plus penalties and interest. Now comes the challenge — collecting it.
How would you calculate penalties and interest on tax arrears of $29 billion dating back as far as 2004? That's one of the many questions facing the U.S. government as it endeavors to extract a record sum fromMicrosoft seems decidedly sanguine. "We believe we have always followed the IRS' rules and paid the taxes we owe,"Microsoft won't reveal exactly what its "allowances for income tax contingencies" are. But they're included in a $19.
According to the IRS, Microsoft sold the software rights to its Puerto Rico subsidiary at a well below-market price, thereby avoiding tens of billions of dollars in taxes. Under tax law, the sale transaction had to be "arm's length" — but one Microsoft executive put in writing that it was "a pure tax play."If you owe $29,000 to the IRS, your options are limited. If you owe $29 billion to the IRS, you can seemingly delay any payment more or less indefinitely.Share on linkedin
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