Perspective
Aug. 13, 2016
Facebook ignores IRS summonses, but you shouldn't
On Wednesday, a California federal judge ordered Facebook to appear in court on Nov. 17 to explain why it has not complied with six IRS summonses. By Robert W. Wood
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Facebook is huge, worth billions, and is very lawyered up. And like many other tech companies that have a mix of U.S. and offshore operations, it has 'tax strategies' that are at least aggressive. The Internal Revenue Service sure thinks so. Of course, Facebook is not the only company to seek offshore and cross-border deals with tax reduction at their center. There are other companies facing similar allegations.
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