Microsoft Corp. MSFT on Wednesday said it has received a notice from the Internal Revenue Service that it owes $28.9 billion in back taxes plus interest and fines for the tax years 2004 to 2013. According to an 8-K filing, the software giant said it received the notice on Sept. 26. “As of September 30, 2023, we believe our allowances for income tax contingencies are adequate,” Microsoft said in the filing. “We disagree with the proposed adjustments and will vigorously contest the NOPAs through the IRS’s administrative appeals office and, if necessary, judicial proceedings.” Microsoft said it does not expect a final decision on the matter in the next 12 months, but it did not expect a “significant” increase or decrease in its tax implications over the same time frame.
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