Forbes: An Unchecked IRS Raises The Stakes for Business
As hard as it may be to believe, Microsoft MSFT -4.88% remains in a dispute with the Internal Revenue Service (IRS) over an audit from ten years ago. The extensive audit by the IRS stems over how tax is calculated for income made by Microsoft overseas. Granted Microsoft is large international company with revenues of nearly $94 billion last year and more than $60 billion in cash on its balance sheet at the end of June. Normally, tax law allows three years for an audit to be conducted. In this case, however, the IRS requested the company to waive the time period resulting in an almost decade long audit. Read More >>
