THEVERGE - Feb 19 - Facebook is facing a lawsuit from the US Internal Revenue Service, which claims the social network owes $9B in unpaid taxes. The lawsuit went to trial in a San Francisco court on Tuesday, and the crux of the case is a 2010 deal between Facebook and an Irish subsidiary it uses to shuffle money around internationally. The IRS alleges Facebook undervalued the intellectual property it sold to the subsidiary, thereby dodging billions in taxes. In 2016, the EU ordered Apple to pay $15.4B in back taxes to Ireland after ruling that Apple had received illegal tax benefits from the country.
by Jay Peters
See full article at The Verge
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