Facebook to IRS: We Shouldn’t Have to Pay More Taxes

Facebook has told the IRS it will not pay additional taxes after using the “Double Irish” method (which is apparently a way to deal with taxes, even though it sounds like an excellent dessert drink.) “Facebook … established an overseas subsidiary in Ireland largely for tax purposes—using what is known as the ‘Double Irish’ technique—and named Dublin its base for business outside North America. But the Internal Revenue Service claims Facebook undervalued the move, and the IRS wants the California company to pay $1.7 million in taxes, plus interest, for the year 2010 and possibly subsequent years—an amount that Facebook says could reach billions.”

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