Microsoft owes $29 billion in back taxes plus penalties and interest to IRS::The IRS sent a surprise bill to Microsoft, hitting the company with a $28.9 billion bill for back taxes and penalties spanning a decade, starting in 2003.
The IRS agent who worked up this case is either going to be up for a few days of extra vacation time or perhaps a job at Microsoft.
Corporations are not people, fuck them up.
Dissolve them. That fucked country still has fucking death penalty.
Wow I wish I could not pay taxes for 3 decades and like do something nice with all that money…
Well, in fairness, they didn’t do anything nice with the money either.
Becoming a monopoly and tech giant is pretty nice…
Okay they aren’t good, but seriously what makes them a monopoly? I haven’t seen anyone make a good argument for this. There isn’t a single industry they’re in, that I know or can think of, that they hold enough market capture to be a monopoly.
Microsoft has lots of kickass stuff. Just Bing it, bro. Or jump on Teams with me and I’ll explain it while I rock out with my Zune.
/s obv
Great! Now do Apple!
But they’re a giant corporation so that’s apparently fine.
So where are all those fake democrats complaining that Biden’s funding the IRS is just going to have them go after small businesses and the lower/middle classes?
How’s that go? Gaslight, obstruct, project? lol
The IRS overwhelmingly go after poor people as they don’t have the means to defend themselves and end up settling out of desperation.
I’m sure after they get more money they’ll totally change though lol
Applejacks where you at buddy?
False dichotomy. They can go for a big, easy target as well as little peeps. Monitoring $600 transactions kind of shows they’re not just interested in big guys.
Right? It’s so silly that they think it’s an all or nothing process. Then again, it’s the internet lmfao.
How about we uphold that the law and taxes are for ALL people, not just rich or poor. We have graduated/progressive tax brackets for a reason. Everyone should be paying their fair share.
Clippy pops up on Excel. “Hey, it looks like you are trying to funnel revenue through a shell organisation in the Caribbean.”
Next week’s news: Microsoft negotiates tax bill down to $3.50. You still need to pay out the ass for healthcare, peasants.
Imagine any other citizen doing the same. they would be rotting in prison.
I’d like to agree but it is not illegal to not pay your taxes. It is illegal to not file your taxes. So if you file your taxes and owe $5,000, you can’t go to jail/prison for not paying it.
With that money you could buy yourself a default search engine position at Apple.
Most of the major corporations in the US do not pay their fair share of taxes. Fuck the greedy pigs.
IRS commin’ in tellin’ me “Ain’t you boys goin’ gimme some back taxes?”
I told them they’d be lucky if they got some front taxes.
The issues that generated this debt pertains to intercompany transfer pricing.
Can someone explain what this means in english?
Edit: I looked into it more and it seems the IRS objects to how Microsoft attributed cost and revenue between its international entities. I’ve heard of this practice being used to arbitrarily shift tax burden internationally. For example, let’s say a US company builds Widgets that cost $20 to make and sells them for $50. By normal accounting, that would result in a net of $30 taxable in the US. But if the company spins up a subsidiary in Ireland to hold its Widget production patents, they can charge the US branch $30 per unit in patent royalties. This results in net $0 taxable in the US and $30 taxable in Ireland. One limitation is that the money has to stay in Ireland. But if the company is already a multi-national one, there’s a good chance they have legitimate business expenses in Europe that the money could be later spent on. The end result is that talent and work from American workers, and revenue largely coming from American buyers, is being manipulated to avoid paying taxes back into the American economy, just because the business has international interests and there are many tax havens overseas.
Can’t imagine running business is difficult when you don’t pay taxes.
I hope they pay up and we just send that to Ukraine as aid.
