Microsoft owes the US IRS nearly $30bn but plans to challenge the amount in court

It seems that Microsoft has a large debt to the US Internal Revenue Service (IRS). This is reported by The Verge, referring to the documents of the U.S. Securities and Exchange Commission.

Here's What We Know

IRS claims relate to the past activities of Microsoft and have nothing to do with the current state of affairs. This is according to Daniel Goff, corporate vice president of the American company for international taxation and customs.

The IRS has notified Microsoft of $28.9bn owed between 2004 and 2013. This amount also includes penalties and interest. Daniel Goff argues that the recalculation did not include the amounts the company paid under the Tax Cuts and Jobs Act. This could reduce the amount owed by almost three times, to $10bn.

Microsoft does not agree with the way the IRS conducted the recalculation. The company plans to challenge it in court.

Source: The Verge