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IRS claims Microsoft owes over $29 billion in unpaid taxes The IRS is asking that Microsoft pay a whopping $29 billion in unpaid taxes from 2004 to 2013, the company said in an official filing on Wednesday. The case puts focus on the international tax practices of major multinational corporations that have been accused in recent years of shifting revenue to lower tax jurisdictions in order to avoid higher taxes in their major markets. SEE MICROSOFT'S OFFICIAL RESPONSE TO THE IRS BILL
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Markets
DJIA | 33,804.87 | 0.19% |
S&P 500 | 4,376.95 | 0.43% |
Nasdaq Composite | 13,659.68 | 0.71% |
Japan: Nikkei 225 | 31,936.51 | 0.60% |
UK: FTSE 100 | 7,620.03 | -0.11% |
Crude Oil Futures | 83.19 | -0.36% |
Gold Futures | 1,887.70 | 0.02% |
Yen | 149.03 | -0.09% |
Euro | 1.06 | 0.01% | * As of market close |
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GOP picks Scalise as speaker but vote tight
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FTX trial becomes a case of he said, she said
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Climate change making French wine finer?
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Extra point
What is the most expensive bottle of wine ever sold? Who bought it? Wednesday's answer: Former Twitter founder/CEO Jack Dorsey posted the first tweet in 2006, reading "just setting up my twttr." The tweet sold as an NFT to crypto entrepreneur Sina Estavi for $2.9 million in 2022.
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