Tax bill could force Facebook to pay IRS billions
Facebook said in a quarterly filing Thursday that an nvestigation currently underway may end with the social network owning billions to Uncle Sam.An Internal Revenue Service probe could result in Facebook being left with a tax bill of between $3-5 billion, the company confirmed.Depending on the final amount, the government's bill could have a "material" impact on the company, Facebook said.
Facebook faces potential $5bn US tax bill linked to Irish assets
Facebook's future cash flows and results could suffer a major blow if it loses a battle over new US tax liabilities related to the transfer of its global operations to Ireland in 2010.Facebook's future cash flows and results could suffer a major blow if it loses a battle over new US tax liabilities related to the transfer of its global operations to Ireland in 2010.Facebook's future cash flows and results could suffer a major blow if it loses a battle over new US tax liabilities related to the transfer of its global operations to Ireland in 2010.
Facebook could face extra $5bn tax bill after US investigation
Facebook could be liable to pay between $3 to $5bn in extra US tax after an extensive investigation by the US Internal Revenue Service (IRS) into the way the tech company transferred assets to Ireland.The tax agency has been exploring whether Facebook deliberately deployed complex financial processes designed to minimize the amount of US tax it paid.Related: Facebook's journey 'only 1% done' after surge in revenue, Zuckerberg saysThe IRS issued the firm with a "statutory notice of deficiency" on 27 July, the company said in its quarterly financial filing, noting that it could have a "material adverse impact" on its finances.
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