Financial News

IRS Says Microsoft Owes $28.9 Billion in Back Taxes

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Microsoft

Microsoft is facing a hefty demand from the Internal Revenue Service (IRS), amounting to $28.9 billion in back taxes, along with interest and penalties, spanning the years 2004 to 2013. Microsoft has expressed its intention to challenge this ruling. According to the IRS, Microsoft is obligated to pay this additional tax due to alleged improper … Read more

U.S., Qatar Agree Not to Release $6 Billion to Iran

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US-Qatar-Agreement-Withholding-$6-Billion-from-Iran"

The United States and Qatar have reached an agreement to block Iran from accessing $6 billion in frozen funds that were released as part of a prisoner swap deal in January 2023. The agreement comes amid concerns from the U.S. that Iran could use the funds to support terrorist groups or its nuclear program. The … Read more