Facebook could be liable to pay between $3 to $5bn in extra US tax after an extensive investigation by the US Internal Revenue Service (IRS) into the way the tech company transferred assets to Ireland. The tax agency has been exploring whether Facebook deliberately deployed complex financial processes designed to minimize the amount of US tax it paid. The IRS has stated that Facebook has failed to attend seven appointments at the IRS office in San Jose, 19 miles from Facebook’s headquarters in Menlo Park. On Wednesday, Facebook announced record quarterly earnings with $6.24bn in advertising sales powered by the popularity of mobile and video.
— source theguardian.com