Microsoft owes $29 billion in unpaid taxes

Microsoft owes $29 billion in unpaid taxes

Organization United States Internal Revenue Service (IRS) It told Microsoft it had to pay $28.9 billion in unpaid taxes “plus penalties and bank interest.” Microsoft has opposed this request and plans to take the matter to court if necessary.

According to Registered documents In the US Securities and Exchange Commission, Microsoft’s unpaid taxes relate to tax years 2004 to 2013. Microsoft says its corporate structure has been reformed in recent years and that what the IRS raised is a thing of the past.

According to Microsoft, the IRS calculations do not include the amounts that the company paid under the Tax Cuts and Jobs Act. If we factor those amounts into the equation, Microsoft’s back taxes would likely drop to $10 billion.

A Microsoft executive says the company disagrees with the IRS’ claims and will “vigorously fight them.” Microsoft does not expect this issue to be resolved for at least the next year.

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