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IRS Targets Meta's Foreign Tax Maneuvers, Seeks $16 Billion in Back Taxes
The IRS is pursuing $16 billion from Meta, accusing the company of misallocating profits to Ireland instead of taxing them in the U.
The U.S. Internal Revenue Service (IRS) is intensifying its long-standing battle with Meta Platforms, seeking $16 billion in back taxes. The IRS argues that Meta, the parent company of Facebook and Instagram, improperly booked tens of billions of dollars in profits in Ireland, where it has a significant presence. According to the IRS, these profits should have been taxed in the U.S. This new approach comes after years of legal disputes, with Meta challenging the IRS’s interpretation of international tax rules.