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Microsoft owes $29 billion in back taxes plus penalties and interest to IRS (appleinsider.com)

submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Microsoft owes $29 billion in back taxes plus penalties and interest to IRS::The IRS sent a surprise bill to Microsoft, hitting the company with a $28.9 billion bill for back taxes and penalties spanning a decade, starting in 2003.

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[–] neptune@dmv.social 22 points 11 months ago

A company as big as Microsoft is not just one company. Just like movie studioes will famously make their film "lose money" to avoid royalty payments, I would bet Microsoft is trying to avoid taxes by selling services, products or profits "at a loss" between different corporate LLCs all owned by Microsoft.

Imagine if your time spent grocery shopping was an "import" corporation that overcharged your "works for a salary" corporation, all within your household.

But I'm sure someone can read the SEC filing and understand for sure.