FILE - The Microsoft logo is pictured at the Mobile World Congress 2023 in Barcelona, Spain, on March 2, 2023. The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest, the company revealed Wednesday, Oct. 11, in a securities filing. The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.
Microsoft, which is based in Redmond, Washington, said it followed IRS rules and will appeal the decision within the agency, a process expected to take several years. The company’s shares dropped slightly in aftermarket trading. The IRS began an audit of Microsoft in 2007 that the agency described in federal court documents last year as “one of the largest in the Service’s history.” Microsoft says it was recently notified by the IRS that the audit has ended, starting a new process to resolve a dispute over how much is owed. starting in 2005 in the U.S. territory of Puerto Rico.
The IRS has also looked at other affiliates, including one that involved retail sales in Asia, according to court documents.from David Goff, Microsoft’s corporate vice president for worldwide tax and customs, said the company has changed its corporate structure and practices since the years covered by the audit.
Goff also said that the $28.9 billion sought by the IRS could be reduced by up to $10 billion because of taxes paid as a result of a 2017 tax law signed by then-President Donald Trump.Vendor voices frustrations as the UW admits to being behind on $69 million in unpaid invoices
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