IRS claims Microsoft owes an added $29 billion in back taxes

IRS claims Microsoft owes an added  billion in back taxes


Microsoft CEO Satya Nadella comes at federal court on October 2, 2023 in Washington, DC. Nadella is testifying in the antitrust demo to decide if Alphabet Inc.’s Google maintains a monopoly in the online research business, which is envisioned to past into November. 

Drew Angerer | Getty Photos

Microsoft acquired Notices of Proposed Adjustment from the Internal Earnings Provider for an extra tax payment of $28.9 billion, the corporation reported in an 8K submitting Wednesday.

Microsoft mentioned the dispute considerations the company’s allotted earnings concerning nations around the world and jurisdictions concerning 2004 and 2013. The enterprise said up to $10 billion in taxes that the company has presently paid are not mirrored in the proposed changes made by the IRS.

Microsoft designs to contest the notices by way of the IRS’s administrative enchantment and is prepared to go to judicial proceedings, if vital.

“Microsoft disagrees with these proposed adjustments and will pursue an attraction in just the IRS, a process expected to take a number of years,” the organization stated in its submitting. “We feel we have generally followed the IRS’s policies and paid the taxes we owe in the U.S. and around the world.”

Microsoft reported that as of Sept. 30, 2023, it believes its allowances for cash flow tax contingencies are sufficient.



Resource

Bitcoin rises to fresh record above 2,000, helped by Nvidia-led tech rally
Technology

Bitcoin rises to fresh record above $112,000, helped by Nvidia-led tech rally

The logo of the cryptocurrency Bitcoin can be seen on a coin in front of a Bitcoin chart. Silas Stein | Picture Alliance | Getty Images Bitcoin hit a fresh record on Wednesday afternoon as an Nvidia-led rally in equities helped push the price of the cryptocurrency higher into the stock market close. The price […]

Read More
Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates
Technology

Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates

The letters AI, which stands for “artificial intelligence,” stand at the Amazon Web Services booth at the Hannover Messe industrial trade fair in Hannover, Germany, on March 31, 2025. Julian Stratenschulte | Picture Alliance | Getty Images Amazon said Wednesday that its cloud division has developed hardware to cool down next-generation Nvidia graphics processing units […]

Read More
Perplexity launches AI-powered web browser for select group of subscribers
Technology

Perplexity launches AI-powered web browser for select group of subscribers

Perplexity AI on Wednesday launched a new artificial intelligence-powered web browser called Comet in the startup’s latest effort to compete in the consumer internet market against companies like Google and Microsoft. Comet will allow users to connect with enterprise applications like Slack and ask complex questions via voice and text, according to a brief demo […]

Read More