Coca-Cola Co. said Friday it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a final federal tax court decision in a case dating back 17 years.
The Atlanta beverage giant said it will continue to fight and believes it will win the legal dispute stemming from taxes and interest the IRS maintains the company owes from 2007, 2008 and 2009.
U.S. Tax Court Judge Albert Lauber on Friday issued a two-sentence decision and order ending his look at the case. The dispute reached court in December 2015, shortly after the company said it notified the IRS that it owed $3.3 billion more in federal taxes and interest for those three years.
This is the first I’ve heard about this. Anyone able to speculate on how hopeful Coke should be for a successful appeal?
Im no expert, but I do know that the US seems to be going after taxes from the wealthy rn. A determined IRS probably has the standing to keep the money, at least most of it.
Given the antitrust suits also coming up the last year or so, id say more is coming, too.
Lina Khan is fantastic
Only if they can afford to appeal all the way up to the Supreme Court. Then they just have to buy the decision they want.
No no no, they don’t buy it, that’s a bribe. They politely ask one of the judges they meet while playing golf to watch their house while they’re on vacation and then after the judge rules in their favor they give them a billion dollars for having watched the house as a thanks for the favor.