Coca-Cola Co. says it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a federal tax court decision in a case dating back 17 years.

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.

  • NotMyOldRedditName@lemmy.world
    10·
    5 months ago

    So to paraphrase if I got this right…

    Coke did taxes way A for years. IRS changed the rules but coke didn’t change how they did it for those 3 years and then coke realized they owed 3.3b more?

    They’re disputing the new rules and saying the new rules don’t apply as the IRS suggests?

    In the meantime there’s 2.7b in interest?