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I'll settle for companies actually paying taxes and getting punished for trying to get away with convoluted loopholes and the tax-free state/country scams.
Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
31–40 of 334 posts
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#32So... Amy Hood is out, right? Accountability and all.
So in your opinion accountability means firing the person who got the job after the incident happened? Amy Hood became the CFO in 2013.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#33Wow. “The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest.” No wonder why they’re talking about charging for windows 12 features, has to come from somewhere!
They have ~$35 billion in cash per their cash flow statement: https://finance.yahoo.com/quote/MSFT/cash-flow?p=MSFT They could in effect write a check today for it.
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Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#34Wow. “The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest.” No wonder why they’re talking about charging for windows 12 features, has to come from somewhere!
They have over 115 Billion cash on hand.
Yeah, and if that takes a $30B hit to settle past accounting issues, that’s still $30B no longer poised for an acquisition or on hand to settle some EU action next year.
Losing a quarter of your cash reserves for no gain isn’t going to ruin today’s business but it sure will frustrate existing strategies for the future.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#35So... Amy Hood is out, right? Accountability and all.
It looks like the problem years were 2004-2013. The problems stop after she’s appointed CFO in 2013.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#36Wow. “The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest.” No wonder why they’re talking about charging for windows 12 features, has to come from somewhere!
They have ~$35 billion in cash per their cash flow statement: https://finance.yahoo.com/quote/MSFT/cash-flow?p=MSFT They could in effect write a check today for it.
Only if "penalties and interest" is less than ~2% annually.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#37Wow. “The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest.” No wonder why they’re talking about charging for windows 12 features, has to come from somewhere!
They have ~$35 billion in cash per their cash flow statement: https://finance.yahoo.com/quote/MSFT/cash-flow?p=MSFT They could in effect write a check today for it.
LOL, like they would ever do that! They will make MS customers pay for it, if they can't convince the IRS to lower the bill significantly, which they probably can.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#38Wow. “The IRS says Microsoft owes an additional $28.9 billion in tax for 2004 to 2013, plus penalties and interest.” No wonder why they’re talking about charging for windows 12 features, has to come from somewhere!
This is before any negotiated settlement, if they are found to have to pay at all, which will be, in all likelihood, substantially lower
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Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#39“Many large multinationals use cost-sharing because it reflects the global nature of their business.”
A comparable example might be Apple, where sales of my (american) app being sold from (american) servers somehow curiously involves the Republic of Ireland and their low corporate tax rates…
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#40Going back almost 20 years has got to be painful. I doubt half of the people involved are even still at the company.