Coca-Cola To Pay $6 Billion in Back Taxes
Company Says It Will Pay 6 Billion in Back Taxes and Interest to the Internal Revenue Service
Coca-Cola announced Friday that it will pay $6 billion in back taxes and interest to the Internal Revenue Service (IRS). The payment is the result of a years-long dispute between the company and the IRS over the company's tax liability.
In a statement, Coca-Cola said that it has reached an agreement with the IRS to resolve the dispute. The company said that it will pay the back taxes and interest in installments over the next several years.
The IRS has not yet commented on the agreement. However, the agency has previously said that it is committed to collecting all taxes that are owed to the government.
The payment of back taxes by Coca-Cola is a significant development in the company's ongoing tax dispute with the IRS. The payment is a sign that the company is willing to resolve the dispute and avoid further penalties.
The payment of back taxes by Coca-Cola is also a reminder that all companies are required to pay their fair share of taxes. The IRS is committed to collecting all taxes that are owed to the government, and companies that fail to pay their taxes may face significant penalties.
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