Microsoft received Internal Revenue Service Notice of Proposed Adjustments The company reported an additional tax payment of $28.9 billion in a Form 8K filing on Wednesday.
Microsoft The dispute concerns the distribution of the company’s profits between countries and jurisdictions between 2004 and 2013. It claims the company has already paid up to $10 billion in taxes that are not reflected in the proposed adjustments. The IRS.
Microsoft It plans to challenge the notices through its administrative appeals process The IRS and willing to resort to judicial procedures if necessary.
“Microsoft Disagree with these proposed adjustments and will seek an appeal The IRSa process that is expected to last several years,” the company said in its presentation. “We believe that we have always been in compliance with the rules. The IRS and paid the taxes we owe in the United States and around the world.”
Microsoft Noted that, as of September 30, 2023, it believes its provisions for income tax contingencies are adequate.
Editor’s note: That sounds like a lot of money, but I wonder how long it takes to make that amount Microsoft? Then I think about half of what he paid for Activision-Blizzard. I certainly don’t have the mind of a millionaire.