Facebook's Certain Issues with Death and Taxes | Corporate Casket
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The IRS's Decision to Close Facebook's Irish Holding Companies
The IRS issued a summons against Facebook, forcing them to turn over documents while the clock's still ticked. They concluded based on its incomplete analysis that Facebook's Irish subsidiary has underpaid for Facebook's software platform by $7 billion. As expected, Facebook soon filed a challenge to the US tax court. This case has slowly but steadily been moving forward. In December 2020, Facebook decided to close the Irish holding companies down,. claiming that they believed it would align with their operating structure.
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