Microsoft CEO Satya Nadella gets to federal court in Washington, D.C., onOct 2, 2023.
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Microsoft gotten Notices of Proposed Adjustment from the Internal Revenue Service for an extra tax payment of $289 billion, the business stated in an 8-K filing Wednesday.
Microsoft stated the conflict worries the business’s assigned earnings in between nations and jurisdictions in between 2004 and2013 It stated as much as $10 billion in taxes that the business has actually currently paid are not shown in the proposed changes made by the internal revenue service.
Microsoft prepares to object to the notifications through the internal revenue service’ administrative appeal and wants to go to judicial procedures, if required.
“Microsoft disagrees with these proposed adjustments and will pursue an appeal within the IRS, a process expected to take several years,” the business stated in its filing. “We believe we have always followed the IRS’s rules and paid the taxes we owe in the U.S. and around the world.”
Microsoft stated that sinceSept 30, 2023, it thinks its allowances for earnings tax contingencies are appropriate.
