Facebook Faces the IRS in Court to the Tune of Nine Billion Dollars
The IRS is claiming that social media giant Facebook grossly undervalued its intellectual property when it sold it to a subsidiary in Ireland in 2010 in order to avoid taxes. Facebook’s subsidiaries pay a royalty to the U.S. parent company for its user base, platform technologies and trademark, among other elements. Facebook Ireland paid its […]
Did You Know?
Federal tax returns were not always due on April 15. March 1 was the due date in 1913 and it was changed to March 15 in 1918. The current tax date was established in 1954.
Leaving the Art House for the Big House
Philip Righter has pleaded guilty to the sale of paintings he claimed were created by artists such as Keith Haring, Andy Warhol and others, and admitted to lying on his income tax returns. Righter attempted to bilk victims out of six million dollars by forging authenticity papers for paintings he claimed were legitimate. He caused […]