Microsoft is going through some tough times as the IRS has sent a bill of $28.9 billion for back taxes and penalties which has been passing over a decade, since 2003. If the company denies the proposal adjustments, it needs to take its step in court on this matter.
According to the details, Microsoft has been notified through Notices of Proposed Adjustment (NOPA) from the IRS about the $28.9 billion bill on back taxes and penalties. Meanwhile, the Corporate Vice President of Worldwide Tax and Customs made the following statement:
“The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest. The IRS’s proposed adjustments do not represent a final determination. Not reflected in the proposed adjustments are taxes paid by Microsoft under the Tax Cuts and Jobs Act (TCJA), which could decrease the final tax owed under the audit by up to $10 billion.”
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