Business
Coke Takes on IRS With $20 Billion at Stake
Coca-Cola KO 0.15%increase; up pointing triangle is waging a high-stakes corporate battle with more than $20 billion at stake, and the opponent isn’t Pepsi or even Dr Pepper. It’s the Internal Revenue Service.
The dispute between the beverage company and the taxman heads to a federal appeals court in Miami this week. The legal issues are complex, but the core question is simple: Does Coca-Cola report too much profit abroad and too little in the U.S.?
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