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"Embrace, extend, extinguish." A phrase once used by Microsoft's executive suite to describe their strategy of weakening and consuming the competition. While Microsoft may have a well established reputation for anti-competitive ruthlessness, they've also been waging a war against the IRS for decades. They owe $29 billion to America, about $87 per person, because Microsoft has been evading taxes for years. Here's how.
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Sources
FORBES - 4 Trillion In Wealth Stored Offshore
www.forbes.com/sites/howardgl...
ITEP - Fortune 500 holding $2.6 trillion offshore (2017)
itep.org/fortune-500-companie...
CNBC - How Amazon, Nike, FedEx Etc Avoid Taxes
www.cnbc.com/2022/04/14/how-c...
FORTUNE - US Companies Are Holding More And More Cash Overseas (Paywall)
fortune.com/2022/08/05/us-com...
Microsoft - An Update On IRS Audit
blogs.microsoft.com/on-the-is...
ProPublica - The IRS Decided To Get Tough Against Microsoft - Microsoft Got Tougher
www.propublica.org/article/th...
Follow-Up Article (2023)
www.propublica.org/article/ir...