[flagged]
Do Apple next!
or first, if you sort in decreasing order of tax evasion / avoidance.
Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
71–80 of 334 posts
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#72Isnt the statute of limitations for collecting taxes 10 years?
2004 is 19 years...
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#73There should never be a gap this big unless fraud or evasion is involved. If the rules are that vague it needs to change.
Should we measure the gap in relative or absolute terms?
I think this is more of a common sense thing. Your question is probably an example of what the Microsoft tax preparers asked.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#74Wonder why the stock hasn't taken a huge hit after the news. $28.9bln sounds like a lot. Maybe investors think MS will find a way to reduce the amount or pull of an extremely long term repayment plan? >As of September 30, 2023, we believe our allowances for income tax contingencies are adequate. We disagree with the proposed adjustments and will vigorously contest the NOPAs through the IRS’s administrative appeals of…
The back taxes add up to about 1.2% of Microsoft's current market cap, and it looks like the stock is down roughly 0.6% in after-hours trading. So I guess the market collectively estimates MS will end up owing about half of that amount.
Or, the number is only slightly higher than investors inspected. I assume this isn't the first news of this issue with the SEC and news like this was already priced-in to the stock.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#75[flagged]
Surely there's a better way. This seems... arbitrary.
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#76Earlier quoted context omitted.
It's simple enough, an Irish company called Apple licenses its very valuable IP to its entities in cheaper countries so they can do things like manufacturing, server farms, customer support. (It also carries on these some of these functions in Ireland, as it happens, and pays a ton of tax at the relatively high income tax rates there.) It's frankly curious to me when a multinational chooses to base itself anywhere le…
At one point, it wasn’t an Irish company. Now technically the American company sold or transferred its IP to the Irish company. But it did so as a fiction, to avoid taxes, and neither I nor a government I help elect are obligated to honor that fiction.
That tax break "Double Irish Dutch Sandwich" is being phased out. It involves both those countries with one of the Irish companies managed out of Bermuda.
It has shifted to other schemes now. https://en.m.wikipedia.org/wiki/Double_Irish_arrangement
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#77[flagged]
That money should be divided among the American taxpayers and not siphoned off by bureaucratic ghouls and the military industrial complex
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#78[flagged]
[deleted]
Re: Microsoft SEC 8-K: IRS is seeking an additional tax payment of $29B
#79[flagged]
Public services? Are you kidding - probably need to fund the wars.