IRS says Microsoft owes an additional $29B in back taxes

Re:IRS says Microsoft owes an additional $29B in back taxes by PopAlongKid on Wednesday October 11, 2023 @06:08PM (#37850928)

> like the rest of us plebes where we only ever guess why their numbers are different & what fines we might have been dinged by?

That is not true. The IRS sends letters through U.S. mail when they propose a change to the return you filed, and whether there is a refund or additional balance due, they indicate what numbers differ and what penalties, if any, were applied.

You can then either accept the change, or disagree and reply with your position on the matter.

I've seen dozens of such letters over the years (both my own and others).

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Re:IRS says Microsoft owes an additional $29B in back taxes by jauntywundrkind on Wednesday October 11, 2023 @06:38PM (#37851263)

I've seen a bunch of such letters, thankfully with mostly small adjustments and most mysterious to me often giving me some money back.

But I've never felt like I've had any clue why things were adjusted or what issues there were.

I'm probably way off base & things aren't actually so bad, but I feel like I get a lot of sympathetic "me too"'s about this in social circles. Maybe a good number of people are just holding their tongues & actually understand & learn from their errors over time, but I don't feel like my tax filing skills have ever improved.

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Re:IRS says Microsoft owes an additional $29B in back taxes by grepfru_it on Wednesday October 11, 2023 @07:01PM (#37851483)

Just got a letter from the irs explaining the problem. We just called our CPA and they did their due diligence. In this case it was our error. The last time it was the IRS’ error. Both times it was very clear what the problem was.

If your taxes are more complex then expect more confusion. But at that point you should probably hire a CPA

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Re:IRS says Microsoft owes an additional $29B in back taxes by tedunangst on Wednesday October 11, 2023 @07:11PM (#37851566)

How many people actually read the letter?

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Re:IRS says Microsoft owes an additional $29B in back taxes by henriquez on Wednesday October 11, 2023 @07:46PM (#37851834)

If you get a letter from the IRS you would be wise to read it.

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Re:IRS says Microsoft owes an additional $29B in back taxes by tedunangst on Wednesday October 11, 2023 @08:35PM (#37852137)

I would agree, but it seems there are many internet people who complain about receiving letters they can't or won't read.

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Re:IRS says Microsoft owes an additional $29B in back taxes by aaomidi on Wednesday October 11, 2023 @09:43PM (#37852537)

While reminding you, interest is accumulating.

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