Facebook Fails to Show Up for 7th Tax Summons From IRS – IOTW Report

Facebook Fails to Show Up for 7th Tax Summons From IRS

BloombergTech: Facebook Inc. officials failed to show up after getting seven summonses from the Internal Revenue Service demanding internal corporate records on one of its offshore tax strategies, according to an IRS court filing.

U.S. authorities are examining Facebook’s federal income tax liability for the period ending Dec. 31, 2010 and are looking at whether the company understated the value of global rights for many of its intangible assets outside the U.S. and Canada that it transferred to a subsidiary in low-tax Ireland.

While Facebook has supplied some documents to the tax authority, it hasn’t provided books, records, papers and other data demanded in seven summonses, the IRS said in an amended petition filed Monday at the U.S. District Court for the Northern District of California. These include a request to show up at an IRS office in San Jose on June 29.  MORE

10 Comments on Facebook Fails to Show Up for 7th Tax Summons From IRS

  1. Can I use that no show policy with the IRS? Nope. I didn’t donate to the correct political party. Or more correctly, I gave to the wrong political party’s candidates.

    I wonder why Trump is doing so well?

  2. He wo makes tribute to the government Mafia, stands under their done of protection.

    The thing that PISSES ME OFF; not only does he get away with it, but they publicize the fact, tallying up his ‘Get Out Of Jail, Free’ use. Nanny boo boo to you non-elitist. ELYSIUM living, privileged CATCH ME IF YOU CAN, peons of the world.

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