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Amazon Fighting a $234 Million IRS Tax Liability

Submitted by admin on Wed, 1/16/2013 - 12:00 am

Washington based online retailer Amazon Inc has decided to fight a $234M tax liability in US Tax Court, regarding the alledged IRS over-valuation of Amazon’s “intangible property” that moves across international borders, referred to as a “transfer tax”.

The IRS lost a court battle regarding a similar issue with the software company Veritas in 2009, a stinging loss for the IRS, prompting corporations to be more eager to challenge the IRS valuation methods.